Construction Spending Slips in December, Yearly Totals Increase in Most Segments

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Construction spending declined by 0.6 percent from November to December but increased from a year earlier in most major categories, according to an analysis of new government data by the Associated General Contractors. The new spending data shows strong overall demand for construction services, but association officials cautioned that labor shortages could undermine continued growth for the industry. “This data shows moderate and balanced growth across residential, private nonresidential and public construction segments,” said Ken Simonson, the association’s chief economist. “That fits with what contractors say they expect for 2019, as the association’s survey in January revealed.” Construction spending totaled … Read more

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Construction Contractors Lose Confidence in Q4, Remain Upbeat Heading into 2019

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Construction industry leaders remained predominantly confident about the nonresidential construction sector’s prospects during the final quarter of 2018, according to the latest Construction Confidence Index released by Associated Builders and Contractors. Sales expectations remained especially upbeat during the fourth quarter, though the proportion of contractors anticipating significant sales increases in the following two quarters dipped by five percentage points. Despite that, more than 67 percent of contractors projected rising sales, while slightly less than 12 percent expected sales to decline. Just over 50 percent of contractors anticipate their profit margins to grow in the first half of 2019, yet only … Read more

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Construction Employment Climbs by 52K in January to 11-Year Peak

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Construction employment increased by 52,000 jobs in January and by 338,000 jobs, or 4.7 percent, over the past year, while the latest reading on construction spending showed moderate increases in all major categories, according to an analysis of new government data by the Associated General Contractors of America. Association officials urged government officials to strengthen career and technical education programs and facilitate immigration for workers with construction skills before a worker shortage stalls completion of needed infrastructure. “There has been no letup in demand for construction projects—or workers,” said Ken Simonson, the association’s chief economist. “Even though the industry added … Read more

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Sundt Begins Construction on New Building at Cypress College

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Sundt Construction, Inc. held a groundbreaking ceremony earlier this month for the new Science, Engineering and Math Building at Cypress College, located in Cypress, California. The new $80-million SEM building will replace the outdated structure with a new complex that includes 22 classrooms, 25 laboratories, faculty offices, support spaces and a highly advanced, domed immersive digital classroom. The new SEM building is the first project to break ground under North Orange County Community College District’s Measure J program, passed by voters in November 2014. Providing modern facilities to support the sciences is a top priority of Measure J. The groundbreaking … Read more

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Construction Employment Increases in 2018 amid Strong Demand

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Construction employment grew in 273 out of 358 metro areas between December 2017 and December 2018, declined in 37 and was unchanged in 48, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said the job gains came amid strong demand throughout 2018 for construction projects but noted that tight labor market conditions likely prevented additional job gains last year. “Construction employment continued to expand in most parts of the country in 2018 as demand for many types of construction projects grew,” said Ken Simonson, the association’s chief economist. “As … Read more

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