ABC Announces 2022 National Chair, Executive Committee

  • Posted on

Associated Builders and Contractors’ board of directors has elected Stephanie Schmidt, president of Poole Anderson Construction, State College, Pennsylvania, as the 2022 ABC national chair of the board of directors during a meeting at the association’s annual Leadership Institute in Aventura, Florida. “As the fourth woman to serve the association in this role, I am honored to lead ABC to deliver value to our members, prioritize safety and total human health and elevate inclusion, diversity and equity, all to prioritize fair and open competition and to invest in and develop our most valuable asset — our people,” said Schmidt. “ABC’s … Read more

Filed under: NewsTagged with: ,

Nonresidential Construction Loses 20,300 Jobs in August, Says ABC

  • Posted on

The construction industry lost 3,000 jobs on net in August, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. Despite the monthly setback, the industry has recovered 881,000 (79.2%) of the jobs lost during earlier stages of the pandemic. Nonresidential construction employment declined by 20,300 positions on net, with all three subcategories registering losses for the month. Nonresidential specialty trade contractors lost 9,200 jobs and heavy and civil engineering lost 8,300. Nonresidential building employment dipped by 2,800 positions. The construction unemployment rate fell sharply to 4.6% in August. Unemployment across all … Read more

Filed under: Economic NewsTagged with: , ,

U.S. Economy Expands in Q2, Investment in Structures Contracts, Says ABC

  • Posted on

The U.S. economy expanded at a 6.5% annualized rate in the second quarter of 2021, pushing overall gross domestic product above pre-pandemic levels. Investment in nonresidential structures, however, declined 7% for the quarter and has now contracted in six of the past seven quarters, according to an analysis by Associated Builders and Contractors of data released by the U.S. Bureau of Economic Analysis. The overall growth in GDP was almost entirely driven by increases in personal consumption expenditures, with sales of goods increasing by 11.6% and sales of services by 12%. “Today’s GDP report was terrific by normal standards, but … Read more

Filed under: Economic NewsTagged with: , ,

ABC’s Construction Backlog Indicator, Contractor Confidence Index Rise in June

  • Posted on

Associated Builders and Contractors reports that its Construction Backlog Indicator rose to 8.5 months in June, according to an ABC member survey conducted June 20-July 6, 0.5 months higher than in May 2021 and 0.4 months higher than in June 2020. ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels increased modestly in June. All three indices remain above the threshold of 50, indicating expectations of growth over the next six months. “Nonresidential contractors continue to predict a strong rebound in activity over the balance of the year,” said ABC Chief Economist Anirban Basu. “Despite recent weakness … Read more

Filed under: NewsTagged with: , , ,

ABC’s Construction Backlog Inches Higher in May, Materials + Labor Shortages Suppress Contractor Confidence

  • Posted on

Associated Builders and Contractors reports that its Construction Backlog Indicator rose to 8.0 months in May, according to an ABC member survey conducted from May 20 to June 2, 0.1 months higher than in April 2021 and May 2020. While ABC’s Construction Confidence Index readings for sales increased modestly in May, confidence regarding profit margins and staffing levels slipped. All three indices remain above the threshold of 50, indicating expectations of growth over the next six months. “Nonresidential construction backlog continues to edge higher, consistent with expectations that sales, profit margins and staffing will expand over the next six months,” … Read more

Filed under: Economic NewsTagged with: , , ,