Nonresidential Construction Spending Remains Flat in October, Residential Construction Expands, says AGC

  • Posted on

The construction industry’s fortunes continued to diverge in October, as residential construction expanded again while nonresidential construction remained largely unchanged from a month ago and is down compared to last year, according to an analysis of new federal construction spending data by the Associated General Contractors of America. Association officials said that demand for nonresidential construction is being hit by private sector worries about the coronavirus, tighter state and local budgets and the lack of new federal pandemic relief measures.   “The October spending report shows private nonresidential construction is continuing to slide,” said Ken Simonson, the association’s chief economist. … Read more

Filed under: Economic NewsTagged with: , ,

Construction Sector Adds 84,000 Workers in October, Project Cancellations Undermine Future Gains, says AGC

  • Posted on

Construction employment increased by 84,000 jobs in October, with jobs added in both nonresidential and residential categories, according to a recent analysis by the Associated General Contractors of America of government data. Association officials cautioned, however, that the pandemic is causing a growing number of construction projects to be canceled or delayed, according to a survey the association released in late October.   “The employment data for October is good news, but our latest survey found that only a minority of contractors expect to add to their workforce in the next 12 months,” said Ken Simonson, the association’s chief economist. … Read more

Filed under: Economic NewsTagged with: , , , ,

Pandemic Prompts Strong Demand for Housing, Undermines Demand for Other Nonresidential Projects, says AGC

  • Posted on

Construction employment increased by 26,000 jobs in September to a total of 7,245,000, but the gains were concentrated in housing, while employment in the infrastructure and nonresidential building construction sector remained little changed, according to an analysis by the Associated General Contractors of America. Association officials said the pandemic was prompting strong demand for new housing as more Americans work from home, while undermining private-sector development of office, retail and other types of projects and forcing many local and state governments to cut construction budgets.   “Construction is becoming steadily more split between a robust residential component and generally stagnant … Read more

Filed under: Economic NewsTagged with: , , ,

Two-Thirds of Metros Shed Construction Jobs from August 2019 to August 2020, AGC Urges Congress to Pass COVID Relief

  • Posted on

Construction employment decreased in 241, or 67%, out of 358 metro areas between August 2019 and last month, according to an analysis of new government data released by the Associated General Contractors of America. Association officials urged Congress to pass new coronavirus relief measures before leaving town.   “Although residential construction is picking up in many areas, public and nonresidential construction are shrinking,” said Ken Simonson, the association’s chief economist. “Project cancellations are spreading, and fewer new projects are starting up. That combination makes further employment declines inevitable unless the federal government steps up support for infrastructure.”   Simonson noted … Read more

Filed under: Economic NewsTagged with: , , , ,

Construction Sector Adds 16K Workers in August, Nonresidential Jobs Shrink + Pessimism Rises, Says AGC

  • Posted on

Construction employment increased by 16,000 jobs in August, but the gains were concentrated in housing, while the infrastructure and nonresidential building construction sector lost 11,000 jobs, according to an analysis by the Associated General Contractors of America of government data. The new jobs data comes as association officials reported that a survey of more than 2000 contractors it released found growing pessimism about a return to normal levels of construction business amid a proliferation of project cancellations.   “Construction is becoming a tale of two sectors, as homebuilding and limited nonresidential niches thrive but most other private, as well as … Read more

Filed under: Economic NewsTagged with: , , ,