Nonresidential Construction Employment Dips in April

  • Posted on

The construction industry added 2,000 jobs in April, but nonresidential construction employment decreased by 2,000 positions, according to an Associated Builders and Contractors analysis of data by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 235,000 jobs, an increase of 3.2%. All of the job losses in the nonresidential sector came from the nonresidential specialty trade segment, which lost 6,400 jobs. Nonresidential building and heavy and civil engineering added 3,900 and 500 jobs, respectively. The construction unemployment rate dropped to 4.6% in April. Unemployment across all industries remained unchanged at 3.6% last month. … Read more

Filed under: Economic NewsTagged with:

How Labor Shortages & Market Volatility are Impacting Subcontractors

  • Posted on

Billd has released the second annual National Subcontractor Market Report. Last year’s report honed in on the financial reality of subcontractors. Despite having just emerged from a pandemic, last year’s market conditions were perceptibly calmer. This year told a different story. A volatile market threw construction businesses for a loop. Labor shortages became a reality in the industry. Conducted in February, the report investigates how the market changed, the impact of these changes on subcontractors and the attitude they’ve adopted in dealing with them. 767 construction professionals in a variety of trades took the survey from which Billd built this … Read more

Filed under: NewsTagged with: ,

Merger and Acquisition Activity Continues into Early 2022

  • Posted on

Capstone Partners released its April construction services sector update, reporting that surging demand has manifested in heightened construction spending through early 2022, despite elevated input costs and supply chain disruptions. Input cost inflation and production constraints have challenged the sector since the onset of the pandemic, with contractors and professional services providers keenly monitoring profitability and optimizing efficiencies. Public companies in the sector have largely been successful in maintaining margin strength. Merger and acquisition activity in the construction services sector has continued its torrid pace, with 128 transactions announced or completed—surpassing the year-to-date total in 2021 which saw a blistering … Read more

Filed under: NewsTagged with: ,

ABC Members Invest $1.6 Billion in Construction Education

  • Posted on

Associated Builders and Contractors member contractors invested $1.6 billion to provide more than 1.3 million course attendees with craft, leadership and safety education in 2021, according to its 2022 Workforce Development Survey, up from $1.3 billion in 2020. The annual assessment quantifies the scope of ABC members’ workforce development initiatives to advance its employees’ careers in commercial and industrial construction to build the places where Americans live, work, learn, heal and play. Safety education accounted for the greatest share, 56%, of total workforce investment. Investment in craft education increased significantly to 34% of the total in 2021, up from 22% … Read more

Filed under: NewsTagged with:

MCA Releases 2021 Annual Report

  • Posted on

The Metal Construction Association has released its 2021 annual report. The report includes chapters detailing the demand for metal construction, best practices and industry standards, and the work of the association’s alliances, committees and councils.  All are working to strengthen the awareness, use and safety standards of the metal construction industry. MCA’s vast range of programs, resources and services are detailed in the report. The report is available at metalconstruction.org/2021-annual-report.

Filed under: OrganizationsTagged with: ,