Nonresidential Construction Employment Increases, Says ABC

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The construction industry added 23,000 jobs on net in October, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has increased by 219,000 jobs, an increase of 2.8%.  Nonresidential construction employment increased by 8,400 positions on net, with growth in all three subcategories. Nonresidential specialty trade added 4,200 positions, while nonresidential building and heavy and civil engineering added 2,600 and 1,600 jobs, respectively. The construction unemployment rate increased to 4% in October. Unemployment across all industries increased from 3.8% in September to 3.9% last month.

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ABC: Monthly Construction Input Prices Increase Slightly

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Construction input prices increased 0.2% in September compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data. Nonresidential construction input prices increased 0.2% for the month, as well. Overall construction input prices are 0.3% higher than a year ago, while nonresidential construction input prices are 0.6% higher. Prices increased in all three energy subcategories in September. Crude petroleum prices were up 10.1%, along with unprocessed energy materials prices, which rose 7.5% last month. Natural gas prices were up slightly by 0.1% in September.

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ABC September Construction Backlog Indicator Dips

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Associated Builders and Contractors reported that its Construction Backlog Indicator declined to nine months in September, according to an ABC member survey conducted Sept. 20 to Oct. 4. The reading is equivalent to one year ago. View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for September. View the full Construction Backlog Indicator and Construction Confidence Index data series. Though it declined last month, the South continues to have the lengthiest backlog, which has been the case since October 2021. Over the past year, only the West has experienced increasing backlog. ABC’s Construction Confidence Index reading for sales and … Read more

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Construction Job Openings at 350,000, Says ABC

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The construction industry had 350,000 job openings on the last day of August, 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 decreased by 3,000 last month but are up by 5,000 from the same time last year. “The number of open, unfilled construction positions declined in August but remains higher than both one year ago and the pre-pandemic level,” said ABC Chief Economist Anirban Basu. “Despite … Read more

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ABC: Nonresidential Construction Spending Increases

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National nonresidential construction spending increased .4% in August, 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 $1.09 trillion. Spending was up on a monthly basis in 12 of the 16 nonresidential subcategories. Private nonresidential spending increased by .3%, while public nonresidential construction spending was up .6% in August.

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