Construction Employers Add 8,000 Jobs In November, Hourly Earnings Rise

Construction employment increased by 24,000 jobs in November to the highest level since November 2008, according to an analysis of new government data by the Associated General Contractors of America. Association officials said that tight margins are keeping firms from paying even more to attract hard-to-find workers, noting that efforts to cut tax rates should help lead to higher average hourly earnings for the sector. “Employment and pay in construction have risen more rapidly over the past year than in the economy overall, as the supply of unemployed, experienced workers continues to shrink,” said Ken Simonson, the association’s chief economist. … Read more

Filed under: eNewsTagged with: , , ,

Construction Employment Increases in 243 Metro Areas between October 2016, 2017

Construction employment increased in 243 out of 358 metro areas between October 2016 and October 2017, declined in 59 and stagnated in 56, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said the best way to ensure metro areas continue to add construction jobs is to treat small and medium-sized employers more fairly and include new infrastructure funding as part of federal tax reform. “Growing demand, especially from the private sector, is continuing to drive construction employment gains in many parts of the country,” said Ken Simonson, the association’s … Read more

Filed under: Economic NewsTagged with: , ,

Construction Industry Adds 11,000 Jobs in October and 187,600 During 2017, Hourly Earnings Continue to Rise

Construction employment increased by 11,000 jobs in October to the highest level in nine years, while the industry’s unemployment rate fell to 4.5 percent, the lowest October rate since 2006, according to an analysis of new government data by the Associated General Contractors of America. Association officials said that while hurricane recovery work may have helped boost employment in the sector, most of the gains are occurring because of strong demand for many types of private-sector projects across much of the country. “The construction industry continues to contribute to the nation’s economic expansion, adding jobs at double the rate of … Read more

Filed under: Economic News, eNewsTagged with: ,

Construction Spending Up in September, Down on YOY Basis

WASHINGTON, D.C. – Nonresidential construction spending rose .5 percent in September, totaling $698.1 billion on a seasonally adjusted basis, according to an Associated Builders and Contractors analysis of data from the U.S. Census Bureau. However, nonresidential construction spending is down 2.9 percent on a year-over-year basis, with construction spending related to manufacturing down 20.3 percent since September 2016. August and July nonresidential spending totals were revised upwards by a collective $11 billion, however. “There is a lot of positive news about the U.S. economy right now,” said ABC Chief Economist Anirban Basu. “The nation has added nearly 1.8 million net … Read more

Filed under: Economic NewsTagged with: , ,