July Construction Unemployment Rate Lowest Since 2000

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WASHINGTON, D.C., — In July, not seasonally adjusted construction unemployment rates improved in 43 states and the nation, adding 209,000 workers on a year-over-year basis, according to an analysis of Bureau of Labor Statistics data released by Associated Builders and Contractors. The national NSA construction unemployment rate of 4.5 percent was 1 percent lower than a year ago, the lowest July rate since 2000 when it was 4.4 percent. “The drop in the construction unemployment rate from July 2015 adds yet another month to the unbroken monthly series of year-over-year rate decreases that started in October 2010,” said economist Bernard … Read more

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Construction’s Contribution to Economy Increases in 30 States in 2015

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WASHINGTON, D.C. – The value added by the private construction industry as a percentage of gross domestic product increased in 30 states and decreased in only six in 2015, according to a report recently released by Associated Builders and Contractors. Nationally, construction’s direct contribution to GDP increased by 0.1 percent to 3.9 percent from 2014 to 2015. Construction accounted the highest percentage of state GDP in North Dakota, with of 7.6 percent in 2015, compared to a low of 3.1 percent in Connecticut and New York. Six states—Arizona, North Dakota, Mississippi, Oregon, West Virginia and Wyoming—saw a decrease in construction’s … Read more

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Construction Input Prices Stable in July

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WASHINGTON, D.C. – Nonresidential construction input prices were unchanged in July according to a recent analysis of the Bureau of Labor Statistics Producer Price Index released by Associated Builders and Contractors. Input prices for both the nonresidential construction segment and construction as a whole are 2.3 percent lower than they were a year ago. “ABC has been predicting relative stability in input prices, and that is precisely what July’s report delivered,” said ABC Chief Economist Anirban Basu. “A weak and disappointing global economy has not been able to drag prices higher. Persistently low prices have placed a lid on the … Read more

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ABC, AIA and NAHB Economists Predict Industry Growth Through 2017

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WASHINGTON, D.C. – Associated Builders and Contractors’ Chief Economist Anirban Basu, American Institute of Architects’ Chief Economist Kermit Baker and National Association of Home Builders’ Chief Economist Robert Dietz predicted continued growth for the construction industry in 2017 during a recent joint economic forecast. “Nonresidential construction spending growth will continue into the next year with an estimated increase in the range of 3 to 4 percent,” said Basu. “Growth will continue to be led by privately financed projects, with commercial construction continuing to lead the way. Energy-related construction will become less of a drag in 2017, while public spending will … Read more

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June Construction Unemployment Rates Improve in 47 States from 2015

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WASHINGTON, D.C. – June not seasonally adjusted construction unemployment rates improved in 47 states and the nation on a year-over-year basis according to an analysis recently released by Associated Builders and Contractors. The national construction unemployment rate of 4.6 percent was 1.7 percent lower than a year ago according to data from the Bureau of Labor Statistics. Further, the industry boasted its lowest June rate since 2000 when it matched this June’s 4.6 percent rate. BLS data also showed that the industry employed 229,000 more people than in June 2015. Four states—Connecticut, Hawaii, Mississippi and Wyoming—posted an increase in their … Read more

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