Dodge Momentum Index Inches Higher in March

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The Dodge Momentum Index increased 0.5% in March to 145.5 (2000=100) from the revised February reading of 144.8. The momentum index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The March uptick was due to a 2.8% increase in the commercial component of the momentum index, while the institutional component fell 3%. The overall momentum index has essentially moved sideways and stayed within a very narrow band of activity since the […]

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Construction Sees Minor Job Growth in March, Says ABC

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The construction industry added 16,000 net new jobs in March, according to an Associated Builders and Contractors analysis of data released by the Bureau of Labor Statistics. On a year-over-year basis, industry employment is up 246,000 jobs, representing a 3.4% increase. Nonresidential employment added 3,200 net new jobs last month, with the bulk of growth among nonresidential specialty contractors, which added 5,500 net new jobs. Heavy and civil engineering added 600 jobs, while the nonresidential building category lost 2,900 positions. The construction industry unemployment rate fell to 5.2%, down a full percentage point from the previous month. Compared to the […]

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Construction Spending Increases 1% from January to February

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Construction spending increased by 1% from January to February, while construction employment increased compared to February 2018 levels in 275 out of 358 metro areas, according to an analysis of new government data by the Associated General Contractors. Association officials called on federal officials to support more career and technical education programs to prepare workers for in-demand careers like construction. “The spending increase in February follows an extremely strong 2.5% gain in January, which aligns with contractors’ reports that they were busy early in the year and expect to stay that way through 2019,” said Ken Simonson, the association’s chief […]

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Jobs Decline in Construction Sector for First Time in More than Two Years, Says ABC

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According to a recent analysis by the Associated Builders and Contractors of data released by the U.S. Bureau of Labor Statistics, the construction industry lost 31,000 net new jobs in February. Overall, nonresidential employment decreased by 20,400 net new positions compared to January, with losses split between nonresidential building (-3,000), heavy and civil engineering (-13,200) and nonresidential specialty contractors (-4,200). However, industry employment is up 223,000 jobs since February 2018, an increase of 3.1 percent. Unemployment in the construction industry dropped slightly to 6.2 percent, down 0.2 percentage points from January. On a year-over-year basis, unemployment is 1.6 percentage points […]

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Large Job Gain in January, Association Survey Shows Ongoing Demand But Workers Hard to Find

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Construction employment decreased by 31,000 jobs in February as extreme winter weather gripped much of the nation. However, continuing year-over-year employment and wage increases that exceed those in other industries suggest there has been no letup in demand for projects, according to an analysis of new government data by the Associated General Contractors of America. “The decline in construction employment in February follows an oversized increase in January of 53,000 employees,” said Ken Simonson, the association’s chief economist. “That suggests contractors may have been able to bring workers on board sooner than normal and had less need to hire in […]

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