Associated Builders and Contractors reports that its Construction Backlog Indicator fell 0.1 months in June and stands at 8.9 months, according to an ABC member survey conducted June 21-July 5. The reading is up 0.4 months from June 2021. The index readings for sales, profit margins and staffing levels declined in June. The indices for sales and staffing remain above the threshold of 50, indicating expectations of growth over the next six months, while the reading for profit margins fell below the threshold of 50 for the first time since October 2021.

The construction industry added 13,000 jobs on net in June, according to an Associated Builders and Contractors’ analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has risen by 292,000 jobs, an increase of 4.0%. Nonresidential construction employment increased by 16,500 positions on net, with all three subsectors showing positive growth. Nonresidential specialty trade added 11,400 net new jobs, while heavy and civil engineering added 4,500. Nonresidential building also added 600 new positions. The construction industry unemployment rate dropped slightly to 3.7% in June. Unemployment across all industries remained unchanged for the … Read more