Contractors Expect Demand to Expand in Every Market Segment in 2019

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Seventy-nine percent of construction firms plan to expand their payrolls in 2019 but an almost equal percentage are worried about their ability to locate and hire qualified workers, according to survey results released by the Associated General Contractors of America and Sage Construction and Real Estate. The findings are detailed in Contractors Remain Confident About Demand, Worried About Labor Supply: The 2019 Construction Hiring and Business Outlook Report. “Construction executives appear to remain confident about their market prospects for 2019 and plan to add headcount to cope with the added workload,” said Stephen E. Sandherr, the association’s CEO. “Even as […]

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Construction Input Prices Continue to Fall in December, Says ABC

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Construction input prices declined 1.7 percent in December on a month-over-month basis, yet are 3.5 percent higher than the same time last year, according to a recent Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics data. In December, nonresidential construction prices fell 1.6 percent but are up 4.1 percent compared to one year ago. Among 11 subcategories monitored in the data, six declined in price in last month, with the crude petroleum category registering the largest decrease at 3.7 percent and 11.1 percent year-over-year. The decline in input prices occurred despite a massive run-up in natural gas […]

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Dodge Momentum Index Moves Lower in December

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NEW YORK, N.Y. – Dodge Momentum Index fell 4.9 percent  in December to 151.9 (2000=100) from the revised November reading of 159.7. 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 decline in December was due to a 7.6 percent drop in the commercial component of the momentum index, while the institutional component fell .7 percent. For the full year, the momentum index gained 4.3 percent from the […]

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Construction Industry Salaries on the Rise

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ALACHUA, Fla. — Skilled craft professionals continue to earn high wages, according to NCCER’s 2018 Construction Craft Salary Survey. More than 130 industrial and commercial construction companies across the U.S., representing over 350,000 employees, participated in the survey. The individual craft areas reported provide average annual salaries, not including overtime, per diem, bonuses or other incentives. Of the 32 construction positions surveyed, average annual salaries ranged from $47,700 to $92,500. Project supervisors and program managers topped the list, earning over $88,000 and $92,500 respectively. Professions earning more than $65,000 include boilermaker, mobile crane operator, tower crane operator, millwright, industrial electrician, […]

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Construction Employment Rises by 38K in December, 280K in 2018

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Construction employment increased by 38,000 jobs in December and by 280,000 jobs, or 4 percent, over the past year, while the industry’s average pay accelerated and unemployment decreased to a historic low, according to an analysis of new government data by the Associated General Contractors of America. Association officials added that most contractors report they plan to continue hiring in 2019, according to the association’s annual outlook. “Demand for construction remains strong across most project types and locations,” said Ken Simonson, the association’s chief economist. “Job growth and pay increases in construction are outpacing those in the overall economy. But […]

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