Construction Unemployment Rate Increases Slightly, Higher Pay Levels Attract People with Recent Construction Experience

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Construction employment increased by 17,000 jobs in April and by 257,000 jobs over the past year while firms boosted pay to help recruit new workers, according to an analysis of new government data by the Associated General Contractors of America. Association officials noted the increases in pay appear to be attracting more former construction workers back into the job market, but cautioned that labor conditions remain extremely tight. “Many firms are boosting pay and taking other steps to compete for a relatively small pool of available, qualified workers to hire,” said Stephen E. Sandherr, the association’s CEO. “While these steps … Read more

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Construction Employers Add 228K Jobs Throughout Year, Industry Unemployment Rate Lowest Ever for Month

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Construction employment increased by 228,000 jobs over the past year despite a weather-related dip last month, and the industry’s unemployment rate fell to 7.4 percent, the lowest yet for March, according to an analysis of new government data by the Associated General Contractors of America. Association officials called for revitalizing and adequately funding career and technical education and training programs to ensure that employment in the high-paying industry would continue to grow. “Construction employment indicators are still signaling strong demand on an annual basis, even though unusually bad weather in several regions probably depressed hiring in March,” said Ken Simonson, … Read more

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Dodge Momentum Index Climbs in March

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NEW YORK, N.Y. – The Dodge Momentum Index moved 6.1 percent higher in March, rising to 155.0 (2000=100) from the revised February reading of 146.0. 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. March’s gain was the result of a 9.6 percent increase in the commercial component – more than erasing the 5.1 percent decline it had seen the previous month. The gain in the institutional sector meanwhile was milder, moving 1.6 percent higher, … Read more

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Construction Financial Management Association CONFINDEX Results Show Confidence Sags in Early 2018

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The Construction Financial Management Association has released the results of its quarterly CONFINDEX survey showing that the overall CONFINDEX reading declined by more than 6 percent during the first quarter and is down more than 10 percent on a year-over-year basis. Overall, CONFINDEX stood at 116 during the second quarter, after holding steady at 124 for the last two quarters of 2017. “Undoubtedly, construction CFOs, who were concerned about profit margins in earlier quarters given expanding worker shortages, are now even more concerned given recent spikes in fuel and softwood lumber prices and the implications of recently enacted tariffs on … Read more

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Contractors Remain Upbeat, According to ABC’s Latest Construction Confidence Index

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WASHINGTON, D.C. – Commercial and industrial construction contractors entered 2018 with abundant confidence regarding sales and staffing levels for the next six months, according to the latest Construction Confidence Index released by Associated Builders and Contractors. All three components surveyed—sales, profit margins and staffing levels—remained well above 50 in the diffusion index, signaling ongoing progress. But the average contractor is less confident about profit margins than they were a year ago. The CCI for sales expectations increased from 66.4 in the first half of 2017 to 67.1 The CCI for profit margin expectations fell from 62.4 to 60.7 The CCI … Read more

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