New Steel, Aluminum Tariffs Cause Concern within Construction Industry

  • Posted on

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

Filed under: Economic NewsTagged with: , ,

Billings Strong at Firms in West, Midwest Regions

  • Posted on

WASHINGTON, D.C. – The American Institute of Architects is reporting an increase in architecture firm billings for February from its Architecture Billings Index, with several key segments showing an encouraging outlook for 2018. “We remain optimistic about the trends we’re seeing at architecture firms this year with the ABI continuing to show growth in February,” said AIA Chief Economist Kermit Baker, Hon. AIA, Ph.D. “We saw several major bright spots reflected in February’s data, as billings remained particularly strong at firms located in the West and Midwest.” While the pace of growth in design activity slowed a bit in February … Read more

Filed under: Economic NewsTagged with: , , ,

Persistent Workforce Shortages Challenge Commercial Construction Industry

  • Posted on

The Q1 2018 USG Corporation + U.S. Chamber of Commerce Commercial Construction Index reveals nearly two-thirds of contractors are highly confident that demand for commercial construction will increase over the next year, however, continued concerns around labor shortages have put even greater pressure on the industry. To increase jobsite efficiency and improve labor productivity, increasingly more builders are turning to alternative construction solutions, like prefabrication and modularization. The Q1 Index indicates contractors turn to innovations such as prefabricated and modular building materials to create more efficient jobsites (89 percent), increase labor productivity (85 percent), drive cost savings (58 percent) and … Read more

Filed under: Economic News, eNewsTagged with: , , , ,

Construction Employers Add 60K Jobs in February, 254K Over Year

  • Posted on

Construction employment increased by 61,000 jobs in February to the highest level since June 2008 as rising pay rates enabled the industry to attract more workers, according to an analysis of new government data by the Associated General Contractors of America. However, association officials cautioned that the Trump administration’s newly imposed steel and aluminum tariffs have the potential to undermine future employment growth for the sector. “Construction industry employment has accelerated over the past four months, and industry pay rates are now more than 10 percent higher than the private-sector average,” said Ken Simonson, the association’s chief economist. “However, steep … Read more

Filed under: Economic NewsTagged with: ,

Architecture Billings Continue Growth into 2018

  • Posted on

WASHINGTON, D.C. – The new year started on a strong note for architecture firms, as the Architecture Billings Index saw its highest January score since 2007. The American Institute of Architects reported the January ABI score was 54.7, up from a score of 52.8 in the previous month. This score reflects an increase in design services provided by U.S. architecture firms (any score above 50 indicates an increase in billings). The new projects inquiry index was 61.1, down from a reading of 62.0 the previous month, while the new design contracts index increased slightly from 53.4 to 53.9. “Healthy conditions … Read more

Filed under: Economic NewsTagged with: ,