Nonresidential Construction Spending Falls in April, Says ABC

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National nonresidential construction spending was down 0.4% in April, 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 $844.4 billion for the month. Despite the monthly setback, nonresidential construction spending is up 6.6% from a year ago. Spending was down on a monthly basis in 12 of the 16 nonresidential subcategories. Private nonresidential spending was down 0.2%, while public nonresidential construction spending was down 0.7% in April. Spending in the residential category retained momentum in April, rising 0.9% for the month and 18.2% since … Read more

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Monthly Construction Input Prices Increase in April

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Construction input prices increased 0.8% in April 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 rose 0.9% for the month. Construction input prices are up 23.7% from a year ago, while nonresidential construction input prices are 24% higher. Input prices were up in 10 of 11 subcategories in April. Softwood lumber was the only category in which prices decreased, falling 17.7% for the month. The largest price increases were in natural gas (+16.9%) and unprocessed energy materials (+10.3%).

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ABC’s Construction Backlog Up in April; Contractor Confidence Down

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Associated Builders and Contractors reported that its Construction Backlog Indicator increased to 8.8 months in April, according to an member survey conducted from April 20 to May 4. The reading is up 0.9 months from April 2021. The index readings for sales and staffing levels declined in April, while the reading for profit margins moved higher. All three indices remain above the threshold of 50, indicating expectations of growth over the next six months.

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Construction Employment Stalls as Industry Unemployment Rate Falls to 4.5%

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Construction employment edged up by 2,000 jobs between March and April as contractors try to find workers in an increasingly tight labor market, according to an analysis by the Associated General Contractors of America of new government data. Association leaders urged officials in Washington to address both short- and long-term worker shortages with expanded permits for foreign-born workers and support for career training and education to enable more workers to acquire the skills for high-paying construction careers. The unemployment rate among jobseekers with construction experience tumbled from 7.7% in April 2021 to 4.6% April 2022, the lowest April rate since … Read more

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Nonresidential Construction Employment Dips in April

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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

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