ABC’s March Construction Backlog Indicator Down to Lowest Level

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Associated Builders and Contractors reported that its Construction Backlog Indicator declined to 8.7 months in March, according to an ABC member survey conducted March 20-April 3. The reading is .4 months higher than in March 2022. View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for March. View the historic Construction Backlog Indicator and Construction Confidence Index data series. Backlog slipped in March and is at its lowest level since August 2022. Backlog is down on a monthly basis in every region except for the South, which continues to be associated with elevated levels of current and future construction … Read more

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ABC Names the 2023 Young Professional of the Year

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Associated Builders and Contractors announced that Matt Terry, executive vice president for TDIndustries, received ABC’s 2023 Young Professional of the Year Award during the ABC Convention in Orlando, Florida, March 15. The Young Professional of the Year is an industry professional under the age of 40 who is employed by an ABC member company and is chosen based on leadership qualities, career achievement and vision for the future of commercial and industrial construction. Terry, 40, was selected based on his contributions and dedication to the industry and ABC. Terry supports and works with the Construction Education Foundation, a local trade school in … Read more

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ABC Announces Fifth Annual List of Top-Performing US Construction Contractors

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Associated Builders and Contractors released its fifth annual Top Performers publication, which lists its contractor members that build the country’s most enduring, innovative, high-quality construction projects, ranked by work hours. This year’s Top Performers include everything from women-owned businesses to service-disabled and veteran-owned businesses to minority-owned businesses large and small; general contractors and specialty trade contractors throughout the entire country. To be eligible, Top Performers must achieve Gold status or higher in ABC’s STEP Safety Management System, which makes the top-performing contractors more than six times safer than the U.S. Bureau of Labor Statistics industry average, according to ABC’s Safety … Read more

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Construction Workforce Shortage Tops Half a Million in 2023, Says ABC

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The construction industry will need to attract an estimated 546,000 additional workers on top of the normal pace of hiring in 2023 to meet the demand for labor, according to a proprietary model developed by Associated Builders and Contractors. ABC’s proprietary model uses the historical relationship between inflation-adjusted construction spending growth, sourced from the U.S. Census Bureau’s Construction Put in Place survey, as well as payroll construction employment, sourced from the U.S. Bureau of Labor Statistics, to convert anticipated increases in construction outlays into demand for construction labor at a rate of approximately 3,620 new jobs per billion dollars of … Read more

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ABC: Nonresidential Construction Spending Dips .5% in December

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National nonresidential construction spending decreased by 0.5% in December, 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 $943.5 billion for the month. Spending fell on a monthly basis in 10 of the 16 nonresidential subcategories. Private nonresidential spending was down .5%, while public nonresidential construction spending was down .4% in December.

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