Construction Adds 19,000 Jobs as Unemployment Plummets in July, Says ABC

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WASHINGTON, D.C.—The U.S. construction industry added 19,000 net new jobs in July after adding 13,000 net new jobs in June, according to an Associated Builders and Contractors analysis of data supplied by the U.S. Bureau of Labor Statistics. The industry has added 308,000 net new jobs since the first of the year, a robust increase of 4.4 percent. The construction industry unemployment rate dove to 3.4 percent in July, recording its lowest level in the 18-year history of the series. The national unemployment rate for all industries inched down to 3.9 percent. Nonresidential construction employment increased by 13,200 net jobs … Read more

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Construction Employment Rises in 43 States, D.C. from June 2017 to June 2018

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Forty-three states and the District of Columbia added construction jobs between June 2017 and June 2018, while 32 states and D.C. added construction jobs between May and June, according to a recent analysis released by the Associated General Contractors of America of Labor Department data. Association officials cautioned that continued job gains may depend on improving the training and education pipeline for workers to enter the industry. “Construction is proving to be a reliable source of employment growth in nearly every state, and contractors are eager to hire even more workers,” said chief economist Ken Simonson. “But finding qualified workers … Read more

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Dodge Momentum Index Moves Higher in June

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NEW YORK, N.Y. – The Dodge Momentum Index grew .8 percent in June to 165.5 (2000=100) from the revised May reading of 164.2. The momentum index 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. In June, the commercial component of the momentum index moved 1.1 percent higher, while the institutional component eked out a .3 percent gain. June’s advance marks the fifth straight monthly increase for the momentum index, which is now nearing a ten-year high, and … Read more

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Construction Material Prices Increase Steadily in June, Says ABC

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WASHINGTON, D.C. – According to a recent Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics data, construction material prices rose another .8 percent in June and are 9.6 percent higher than they were at the same time one year ago. June represents the latest month associated with rapidly rising construction input prices. Nonresidential construction materials prices effectively mirrored overall construction prices by rising .9 percent on a month-over-month basis and 9.8 percent on a year-over-year basis. “In general, this emerging state of affairs is unfavorable,” said ABC Chief Economist Anirban Basu. “Rapidly rising materials prices interfere with … Read more

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Workforce Challenges Continue to Impact Construction Industry as 9 of 10 U.S. Contractors Report Skilled Labor Shortage

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Findings from the recently released Q2 2018 USG Corporation + U.S. Chamber of Commerce Commercial Construction Index show four straight quarters with more than 90 percent of contractors concerned over labor shortages. Concerns increased quarter-over-quarter, with 47 percent of respondents expecting problems finding skilled workers to worsen in the next six months. “Contractors’ pipelines for new business are consistently healthy, however, that optimism is challenged by a growing shortage of workers – a trend that’s persisted for more than a year,” said Jennifer Scanlon, president and CEO of USG Corporation. “In order to sustain the strong pipeline of work, it’s important … Read more

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