ABC: Construction Quit Rate Plummets to 9-Year Low

  • Posted on

he construction industry had 306,000 job openings on the last day of July, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings increased by 64,000 last month and are up by 77,000 from the same time last year. “The construction job opening rate rose to the highest level in over a year during July,” said ABC Chief Economist Anirban Basu. “Given the ongoing decline in nonresidential construction … Read more

Filed under: Economic NewsTagged with: , ,

ABC: Nonresidential Construction Spending Falls Sharply in July

  • Posted on

National nonresidential construction spending decreased 0.2% in July, 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 $1.24 trillion. Spending was down on a monthly basis in 7 of the 16 nonresidential subcategories. Private nonresidential spending was down 0.5%, while public nonresidential construction spending was up 0.3% in July. “Nonresidential construction spending fell for a third consecutive month in July and is now down 2.5% from the December 2023 record high,” said ABC Chief Economist Anirban Basu. “Of course, that’s in nominal terms. With … Read more

Filed under: Economic NewsTagged with: , ,

ABC: Construction Materials Prices Jump 0.4% in July

  • Posted on

Construction input prices increased 0.4% in July compared to the previous month, according to an Associated Builders and Contractors analysis’ of U.S. Bureau of Labor Statistics’ Producer Price Index data released. Nonresidential construction input prices also increased 0.4% for the month. Overall construction input prices are 2.2% higher than a year ago, while nonresidential construction input prices are 2.6% higher. Prices increased in 2 of the 3 energy categories last month. Crude petroleum and unprocessed energy materials prices were up 1.7% and 0.5%, respectively, while natural gas prices decreased 2.1% in July. “Construction materials prices continued to increase too quickly … Read more

Filed under: Economic NewsTagged with: , , ,

ABC: Nonresidential Construction Spending Contracts in 6 of Past 7 Months

  • Posted on

National nonresidential construction spending decreased 0.1% in June, 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 $1.241 trillion. Spending was down on a monthly basis in 9 of the 16 nonresidential subcategories. Private nonresidential spending fell 0.3% for the month, while public nonresidential construction spending inched 0.1% higher. “Nonresidential construction spending declined in June and has now contracted in 6 of the past 7 months,” said ABC Chief Economist Anirban Basu. “Recent declines would be worse if not for ongoing increases in public … Read more

Filed under: Economic NewsTagged with: , ,

ABC: Nonresidential Construction Spending Contracts in 6 of Past 7 Months

  • Posted on

National nonresidential construction spending decreased 0.1% in June, 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 $1.241 trillion. Spending was down on a monthly basis in 9 of the 16 nonresidential subcategories. Private nonresidential spending fell 0.3% for the month, while public nonresidential construction spending inched 0.1% higher. “Nonresidential construction spending declined in June and has now contracted in 6 of the past 7 months,” said ABC Chief Economist Anirban Basu. “Recent declines would be worse if not for ongoing increases in public … Read more

Filed under: Economic NewsTagged with: , ,