ABC Releases March Construction Spending Data

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Construction input prices increased 0.5% in March, according to an Associated Builders and Contractors’ analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices increased 0.6% for the month. Both overall and nonresidential construction input prices are 0.8% higher than one year ago. While crude petroleum prices fell considerably in March, that decline was more than offset by rapidly rising natural gas, steel, copper and lumber prices. “Construction input prices increased at a rapid pace for the third consecutive month in March and have now risen at a 9.7% annualized rate through the first quarter … Read more

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March Construction Employment Up Just 1.8% Year Over Year

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The construction industry added 13,000 jobs on net in March, 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 a mere 143,000 jobs, an increase of 1.8%. Nonresidential construction employment increased by 22,300 positions on net in March, with growth in 2 of the 3 subsegments. Nonresidential specialty trade added the most jobs, with a monthly increase of 19,300 positions, while heavy and civil engineering added 3,400 jobs. The nonresidential building subsegment lost 400 positions. The construction unemployment rate decreased to 5.4% … Read more

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ABC: Nonresidential Construction Spending Rises to Highest Level on Record in February

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National nonresidential construction spending increased .3% in February, according to an Associated Builders and Contractors’ analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled roughly $1.2 trillion. Spending was up on a monthly basis in 9 of the 16 nonresidential subcategories. Private nonresidential spending increased .4%, while public nonresidential construction spending was up .2% in February. “Nonresidential spending rebounded in February, rising to the highest level on record,” said ABC Chief Economist Anirban Basu. “A surge in highway and street spending accounted for more than 40% of the monthly increase, and … Read more

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ABC Obtains National Recovery Friendly Workplace Certification

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Associated Builders and Contractors has achieved certification as a recovery-friendly workplace from the Global Recovery Initiatives Foundation’s National Recovery Friendly Workplace Institute. The rigorous certification recognizes ABC’s commitment to fostering a supportive environment for employees in recovery from substance use disorders, as well as their loved ones. The certification recognizes ABC’s adherence to four requirements that ensure individuals with substance use disorders get the same level of early access to treatment and recovery supports as other medical conditions would: Culture: Promoting a recovery-friendly workplace with supportive policies and leadership. Hiring, retention and advancement: Supporting fair hiring practices and employee wellness. … Read more

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Prices For Nonresidential Construction Materials, Services Climb .5% in February

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The price of materials and services used in nonresidential construction rose .5% in February, following an increase of .7% in January, according to an analysis by the Associated General Contractors of America of government data. The producer price index for inputs to new nonresidential construction —a weighted average of all materials and certain services used in new construction — increased for the second month in a row. Meanwhile, the index for new nonresidential building construction — a measure of what contractors report they would charge to put up a specific set of buildings — dipped by .1% in February, following … Read more

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