ABC Predicts Construction Sector Will Remain Strong in 2019

  • Posted on

WASHINGTON, D.C. — Associated Builders and Contractors Chief Economist Anirban Basu forecasts another strong year for construction sector performance, yet warns about inflationary pressures, according to a recently published 2019 economic outlook. Job growth, high backlog and healthy infrastructure investment all spell good news for the industry. However, historically low unemployment has created a construction workforce shortage of an estimated 500,000 positions, which is leading to increased compensation costs. “U.S. economic performance has been brilliant of late. Sure, there has been a considerable volume of negativity regarding the propriety of tariffs, shifting immigration policy, etc., but the headline statistics make … Read more

Filed under: Economic NewsTagged with: ,

ABC Elects 2019 National Chair, Executive Committee

  • Posted on

LAS VEGAS, Nev. ― The Associated Builders and Contractors board of directors elected Tony Rader, telecom vice president for National Roofing Partners, to serve as the 2019 national chair during the association’s annual Leadership Institute in Las Vegas, Vegas. Ray Zamora, president of AnchorBuilt Inc., was elected chair-elect, and Steve Klessig, vice president of architecture and engineering, Keller Inc., was elected secretary. Members of ABC’s 2019 executive committee who will take office Jan. 1: Tony Rader, telecom vice president, National Roofing Partners, Coppell, Texas, chair Ray Zamora, president, AnchorBuilt Inc., Albuquerque, N.M., chair-elect Steve Klessig, vice president of architecture and … Read more

Filed under: NewsTagged with: ,

Construction Employment Picks Up in October, Says ABC

  • Posted on

WASHINGTON, D.C. — The U.S. construction industry added 30,000 net new jobs in October, according to an analysis from the Associated Builders and Contractors of data from the U.S. Bureau of Labor Statistics. The industry has added 330,000 net new construction jobs over the past 12 months, a 4.7 percent increase. Additionally, nonresidential construction employment grew by 13,500 net new jobs in October, with job growth split evenly between the heavy and civil engineering subsector (+7,100) and nonresidential specialty trade (+7,500). Construction unemployment dropped to 3.6 percent in October, 0.5 percentage points lower than the previous month, and 0.9 percentage … Read more

Filed under: Economic NewsTagged with: , ,

Nonresidential Spending Retains Momentum in September, up 8.9% Year Over Year

  • Posted on

WASHINGTON, D.C. – National nonresidential construction spending fell 0.3 percent in September but remains historically elevated, according to an Associated Builders and Contractors recent analysis of U.S. Census Bureau data. Total nonresidential spending stood at $767.1 billion on a seasonally adjusted, annualized rate in September, an increase of 8.9 percent on a year-ago basis. Note that August’s estimate was revised almost a full percent higher from $762.7 billion to $769.1 billion, the highest level in the history of the series. Private nonresidential spending increased 0.1 percent in September while public nonresidential spending decreased 0.8 percent for the month. “Virtually no … Read more

Filed under: Economic NewsTagged with: ,

Construction Industry Adds 23,000 Jobs in September, says ABC

  • Posted on

The U.S. construction industry added 23,000 net new positions in September, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. During the last 12 months, the industry has added 315,000 net new jobs, an increase of 4.5 percent. Nonresidential construction employment expanded by 18,600 net jobs on a monthly basis, while the residential sector added just 4,400 net positions. Though construction unemployment rose to 4.1 percent in September, it remains low by historical standards. National unemployment dropped to 3.7 percent across all industries, the lowest rate since December 1969. “For several … Read more

Filed under: Economic News, eNewsTagged with: , , ,