Jobs Decline in Construction Sector for First Time in More than Two Years, Says ABC

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According to a recent analysis by the Associated Builders and Contractors of data released by the U.S. Bureau of Labor Statistics, the construction industry lost 31,000 net new jobs in February. Overall, nonresidential employment decreased by 20,400 net new positions compared to January, with losses split between nonresidential building (-3,000), heavy and civil engineering (-13,200) and nonresidential specialty contractors (-4,200). However, industry employment is up 223,000 jobs since February 2018, an increase of 3.1 percent. Unemployment in the construction industry dropped slightly to 6.2 percent, down 0.2 percentage points from January. On a year-over-year basis, unemployment is 1.6 percentage points […]

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Construction Contractors Lose Confidence in Q4, Remain Upbeat Heading into 2019

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Construction industry leaders remained predominantly confident about the nonresidential construction sector’s prospects during the final quarter of 2018, according to the latest Construction Confidence Index released by Associated Builders and Contractors. Sales expectations remained especially upbeat during the fourth quarter, though the proportion of contractors anticipating significant sales increases in the following two quarters dipped by five percentage points. Despite that, more than 67 percent of contractors projected rising sales, while slightly less than 12 percent expected sales to decline. Just over 50 percent of contractors anticipate their profit margins to grow in the first half of 2019, yet only […]

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Construction Input Prices Continue to Fall in December, Says ABC

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Construction input prices declined 1.7 percent in December on a month-over-month basis, yet are 3.5 percent higher than the same time last year, according to a recent Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics data. In December, nonresidential construction prices fell 1.6 percent but are up 4.1 percent compared to one year ago. Among 11 subcategories monitored in the data, six declined in price in last month, with the crude petroleum category registering the largest decrease at 3.7 percent and 11.1 percent year-over-year. The decline in input prices occurred despite a massive run-up in natural gas […]

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Contractors Lose Confidence in Q3 but Remain Upbeat

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WASHINGTON, D.C. — While construction industry leaders remained confident in the third quarter of 2018, optimism slipped relative to the second quarter, according to the latest Construction Confidence Index released by Associated Builders and Contractors. Approximately three in four construction firms expect that sales will continue to rise over the next six months and closer to one in 10 expect sales to decline over the next two quarters. Though many firms expect to become even busier, fewer than six in 10 contractors expect profit margins to increase, a reflection of rising human capital, materials prices and other input costs. Despite […]

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Price of Construction Materials Declines in November, ABC Predicts Moderate Increases in Early 2019

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Construction materials prices fell 1.8 percent in November, according to the Associated Builders and Contractors’ recent analysis of U.S. Bureau of Labor Statistics data. Despite the monthly decline, materials prices are still 5.3 percent higher than they were on a year-over-year basis. Nonresidential construction input prices fell 1.7 percent for the month, and are up 5.8 percent compared to the same time last year. Prices declined in five of 11 subcategories, with crude petroleum (down 29.5 percent) and unprocessed energy materials (down 11.5 percent) experiencing the largest decreases. Only natural gas recorded a substantial increase in price: up 15 percent […]

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