ABC: Construction Materials Prices Decrease

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Construction input prices decreased 0.9% in May compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices decreased 0.8% for the month. Overall construction input prices are 2.1% higher than a year ago, while nonresidential construction input prices are 2.2% higher. Prices decreased in 2 of the 3 energy subcategories last month. Crude petroleum prices were down 8.7%, while unprocessed energy materials prices decreased 6.6%. Natural gas prices were up by 1.7%. “For contractors, this data provides excellent news along two fronts,” said … Read more

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UAB’s 12 New Construction, Renovation Projects Transforming Campus

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The University of Alabama at Birmingham continues to implement its strategic plan and campus master plan by building new facilities and renovating existing spaces to enhance opportunities for success across UAB’s mission pillars of education, research innovation and economic development, community service and patient care. The development of UAB’s physical campus plays a role in the recruitment and retention of students, faculty and staff, offering  spaces to live, study and work. UAB’s new strategic plan support the institution’s strategic growth, including the physical evolution of the campus, exemplified in 12 projects. Several of these projects also directly support UAB’s Research Strategic Initiative: Growth with Purpose, an institution-wide effort to aggressively expand UAB’s research portfolio and multiply … Read more

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Youth Construction Camp Inspires Next Generation of Leaders

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Three dozen middle and high school students from around Arizona discovered the joy of building at a free weeklong construction camp where they used professional power tools and learned from industry professionals. For the second year in a row, The Rosendin Foundation, hosted TRF Camp Build, bringing together local construction companies and volunteers to educate and support campers. TRF Camp Build, held June 3-7 at the Phoenix Electrical Training Alliance included hands-on building projects, career exploration and a field trip to the UA Local 469’s training facility. Under expert supervision, rising 7th-10th grade students learned specialized construction skills that they can apply throughout their lives including concrete pouring, … Read more

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Marcum 2024 Q1 Report: Construction Sector Defies Rising Costs and Interest Rates

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The Marcum Commercial Construction Index for the first quarter of 2024 reports that the construction industry continued growing despite various challenges. The construction industry continues to benefit from massive investment in manufacturing structures. “Construction spending on manufacturing structures is up 184% over the past four years,” said Anirban Basu, Marcum’s chief construction economist and report author. “Given the size of many of these projects and ongoing efforts to strengthen the nation’s semiconductor, clean energy, and electric vehicle production capacity, the manufacturing-related construction segment will retain momentum through the entirety of 2024.” Input prices, after remaining relatively flat throughout 2023, resumed … Read more

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ABC: Nonresidential Construction Adds 17,100 Jobs

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The construction industry added 21,000 jobs on net in May, 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 increased by 251,000 jobs, an increase of 3.1%. Nonresidential construction employment increased by 17,100 positions on net in May, with growth registered in all three major subcategories. Nonresidential specialty trade added the most jobs, with employment increasing by 13,000 positions. Nonresidential building and heavy and civil engineering added 3,000 and 1,100 jobs, respectively. The construction unemployment rate fell to 3.9% in May. Unemployment across all industries rose from 3.9% in April to 4% last month. “Every monthly employment report is important,” … Read more

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