ABC: Georgia is No. 1 State for Construction

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For the first time, Georgia was named the top state for construction in Associated Builders and Contractors’ annual Merit Shop Scorecard. The scorecard, released yearly since 2015, ranks all 50 states and the District of Columbia based on policies and programs that strengthen career pathways in construction, encourage workforce development and advocate for fair and open competition on taxpayer-funded construction projects. Georgia’s construction industry continues to prosper, and it earned the top spot due to the state’s continued dedication to workforce development. This year, 99% of career and technical education students in the state earned a credential and/or continued to a … Read more

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ABC: Nonresidential Construction Spending Inches Higher, up 20% Over the Past Year

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National nonresidential construction spending increased 0.1% in October, 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 $1.1 trillion. Spending was up on a monthly basis in 8 of the 16 nonresidential subcategories. Private nonresidential spending increased 0.1% in October, while public nonresidential construction spending was up 0.2%.  

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ABC Construction Backlog Indicator Falls for Small Contractors, Increases for Large Contractors

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Associated Builders and Contractors reported that its Construction Backlog Indicator declined to 8.4 months in October from 9 months in September, according to an ABC member survey conducted Oct. 19-Nov. 2. The reading is down 0.4 months from October 2022. View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for October. View the full Construction Backlog Indicator and Construction Confidence Index data series. Backlog now stands at its lowest level since the first quarter of 2022. Declines were concentrated among the smallest contractors, those with less than $30 million in annual revenues. All three other revenue categories experienced an … Read more

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Nonresidential Construction Employment Increases, Says ABC

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The construction industry added 23,000 jobs on net in October, 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 increased by 219,000 jobs, an increase of 2.8%.  Nonresidential construction employment increased by 8,400 positions on net, with growth in all three subcategories. Nonresidential specialty trade added 4,200 positions, while nonresidential building and heavy and civil engineering added 2,600 and 1,600 jobs, respectively. The construction unemployment rate increased to 4% in October. Unemployment across all industries increased from 3.8% in September to 3.9% last month.

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ABC: Monthly Construction Input Prices Increase Slightly

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Construction input prices increased 0.2% in September 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 increased 0.2% for the month, as well. Overall construction input prices are 0.3% higher than a year ago, while nonresidential construction input prices are 0.6% higher. Prices increased in all three energy subcategories in September. Crude petroleum prices were up 10.1%, along with unprocessed energy materials prices, which rose 7.5% last month. Natural gas prices were up slightly by 0.1% in September.

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