ABC: Monthly Construction Input Prices Increased 1.5%

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Construction input prices rose 1.5% in August 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 1.5% for the month, but are up just 0.2% from a year ago. Rising energy prices drove overall price increases in August. Crude petroleum prices were up 8.9% and unprocessed energy materials prices rose 5.4% last month.

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ABC Reports Construction Job Openings Decreased by 5,000 in June

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The construction industry had 374,000 job openings on the last day of June, 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 declined by 5,000 last month and are down 9,000 from the same time last year. “Some will focus on the fact that construction job openings declined in June,” said ABC Chief Economist Anirban Basu. “But the real story is that, despite massive interest rate increases … Read more

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ABC: Monthly Construction Input Prices Unchanged in June

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Construction input prices remained unchanged in June 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 were also unchanged for the month. Overall construction input prices are 4.9% lower than a year ago, while nonresidential construction input prices are 4.5% lower. Prices decreased in all three energy subcategories in June. Crude petroleum prices were down 5.9%, while natural gas prices fell 5.3%. Unprocessed energy materials prices decreased 5% for the month.

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ABC’s Construction Backlog Indicator Steady in June

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Associated Builders and Contractors reported that its Construction Backlog Indicator remained unchanged at 8.9 months in June, according to an ABC member survey conducted June 20-July 5. The reading is unchanged from June 2022. View the historic Construction Backlog Indicator and Construction Confidence Index data series. Backlog in the infrastructure category increased for the third straight month and is now at the highest level in nearly two years. On a regional basis, the South remains the region with the highest backlog, despite being the only region in which backlog declined in June. ABC’s Construction Confidence Index reading for sales, profit margins … Read more

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Bridging Generation Gap in Construction Workforces

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How next-gen tech unites old, new generations of workers The construction industry is on the road to a major labor crisis. ABC figures show the U.S. construction workforce shortage topped half a million going into 2023. The sudden rise in labor-intensive infrastructure megaprojects means there is now a heightened demand for workers. But older, highly experienced workers leaving the industry, and a lack of younger skilled workers entering the industry, is creating a deep and growing imbalance in construction workforces. Kenny Ingram, vice president of construction and engineering, IFS, explains how construction businesses can remain competitive in the job market, … Read more

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