Construction Employers Add 36K Jobs in January, Hourly Earnings Rise

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Construction employment increased by 36,000 jobs in January to the highest level since August 2008, according to an analysis of new government data by the Associated General Contractors of America. Association officials said a possible new measure being discussed in Washington that would invest an additional $1.5 trillion in repairing and improving infrastructure would both help the sector continue to add jobs and attract new workers. “The construction industry has consistently added workers at nearly double the rate of the overall economy,” said Ken Simonson, the association’s chief economist. “The outlook remains positive for further growth in the industry. But … Read more

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Strong Economy, Weaker Dollar Help Construction Materials Prices Recover in January

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WASHINGTON, D.C. – Overall construction input prices increased 1.1 percent in January, reversing a slight decline in December 2017, according to a recently released Associated Builders and Contractors analysis of Bureau of Labor Statistics data. Compared to this time last year, overall construction materials prices are up 4.9 percent. Nonresidential construction materials prices are up 4.7 percent year over year and up 1 percent on a monthly basis. The price of natural gas fell 13.1 percent in January and is down 31 percent on a year-over-year basis. In stark contrast, the price of crude petroleum rose 11.6 percent in January … Read more

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Strong Level of Construction Activity Across U.S. Continues to Drive Increase in Construction Costs

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According to Turner Construction Company’s quarterly Building Cost Index, the busy construction market, shortages of skilled labor and the impact of natural disasters on material production and demand are putting upward pressure on construction costs. Officials with Turner Construction Company announced that the Fourth Quarter 2017 Turner Building Cost Index—which measures costs in the non-residential building construction market in the United States—has increased to a value of 1058. This represents a 1.34 percent quarterly increase from the Third Quarter 2017 and a 5.17 percent yearly increase from the Fourth Quarter 2016. “We saw slight cost increases for select raw materials … Read more

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Construction Spending Rises for Fifth Month in a Row in December, Private Investment Climbs in 2017

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Construction spending increased for a fifth consecutive month in December as private residential and nonresidential investment for the year topped 2016 totals, while declining infrastructure spending dragged down public-sector outlays, according to an analysis of new government data by the Associated General Contractors of America. Association officials said federal, state and local officials should address the growing shortfall in transportation, water and wastewater infrastructure in order to sustain economic growth and improve public health and safety. “Construction spending ended the year on a high note, with gains over November levels for all major categories, but the annual totals for 2017 … Read more

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Nonresidential Construction Maintains Momentum in December, ABC Says

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WASHINGTON, D.C. – Nonresidential construction spending expanded 0.8 percent in December, totaling $720.4 billion on a seasonally adjusted basis, according to Associated Builders and Contractors’ analysis of data released by the U.S. Census Bureau. This represents the fifth consecutive month during which the pace of nonresidential spending has increased. Nonresidential spending expanded 0.1 percent on a year-over-year basis and sits at its highest level since March. Private nonresidential construction spending increased 1.1 percent for the month, but is down 2.5 percent year over year, while public nonresidential spending increased 0.4 percent for the month and 4.4 percent for the year. … Read more

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