Construction Employers Add 228K Jobs Over 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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Tepid Rise for Dodge Momentum Index in February

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NEW YORK, N.Y. – The Dodge Momentum Index increased 0.5 percent in February to 146.9 (2000=100) from the revised January reading of 146.2. 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. The move higher in February was the result of an 8.2 percent increase in the institutional component, while the commercial component contracted 4.8 percent. The commercial component has declined for two consecutive months and, while this should not lead to an outright decline … Read more

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February Construction Unemployment Rates Down Year-Over-Year in 34 States, Says ABC

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WASHINGTON, D.C. — The February 2018 not seasonally adjusted national construction unemployment rate was 7.8 percent, down 1 percent from February 2017 and the lowest national February rate on record, according to an analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. Estimated construction unemployment rates were down in 34 states on a year-over-year basis, unchanged in one state (Arizona) and up in 15 states. At the same time, the construction industry employed 273,000 more workers than in February 2017. “Construction activity continues to be positive in much of the country, resulting in healthy demand … Read more

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Construction Employment Rises in 35 States, D.C. from February 2017 to February 2018

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Thirty-five states and the District of Columbia added construction jobs between February 2017 and February 2018, while 38 states added construction jobs between January and February, according to a recent analysis by the Associated General Contractors of America of Labor Department data. Association officials praised the latest Congressional spending bill for funding career and technical education to help young workers get into the industry. “The construction industry continues to add employees in most of the nation, despite a shortage of workers with construction experience,” said chief economist Ken Simonson. “But job openings are growing, as contractors encounter a shrinking pool … Read more

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New Steel, Aluminum Tariffs Cause Concern within Construction Industry

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The CEO of the Associated General Contractors of America, Stephen E. Sandherr, released the following statement in reaction to President Trump’s announcement that he will impose new tariffs on imported steel and aluminum products: “These new tariffs will cause significant harm to the nation’s construction industry, put tens of thousands of high-paying construction jobs at risk, undermine the President’s proposed infrastructure initiative and potentially dampen demand for new construction projects for years to come. That is because the newly imposed tariffs will lead to increases in what construction firms are forced to pay for the many steel and aluminum products that … Read more

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