February Rise in Construction Outlays Contrasts with Pandemic-Drive Collapse in March, AGC Says

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Construction spending in February increased 6% from February 2019, with year-over-year gains in both residential and nonresidential outlays, according to a new analysis of federal data released by the Associated General Contractors of America. Association officials cautioned that their latest survey shows conditions for contractors have deteriorated rapidly since February. They called on Congress to urgently pass targeted recovery measures to boost infrastructure funding, compensate firms for lost or delayed federally funded work, and provide needed pension relief. “Spending in February declined 1.3% from an upwardly revised, exceptionally strong pace in January that was aided by unusually mild winter weather … Read more

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AGC Reports Construction Employment Increases in February, Industry’s Unemployment Rate Sets New Low

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Construction employment increased by 42,000 jobs in February and by 223,000 or 3% over the past 12 months, as the industry’s unemployment rate hit a new February low, according to an analysis of new government data by the Associated General Contractors of America. Association officials said some of the gains were attributable to mild winter weather in many parts of the country last month but added that the main reason for the gains was strong demand for construction services. “Contractors are off to a fast start in 2020, adding 91,000 jobs in the first two months—the most in nearly two … Read more

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Pandemic Halts or Delays Projects for 28% of Contractors, Survey Finds

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The coronavirus pandemic has caused more than one out of four contractors to halt or delay work on projects, according to a survey released by the Associated General Contractors of America. The survey results show how quickly market conditions have changed compared to data showing a majority of metro areas added construction jobs through January. Association officials noted that a relief bill the Senate is considering includes some favorable tax and loan provisions. But they said the bill also needs new infrastructure investments and improvements to the new paid sick and family medical leave measures. “The coronavirus pandemic has the … Read more

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AGC: Shutting Down Construction Projects Unnecessary Step, Will Harm Economy & Undermine Recovery Efforts

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The CEO of the Associated General Contractors of America, Stephen E. Sandherr, issued the following statement in reaction to steps being taken to put in place arbitrary halts to construction activity in certain parts of the country: “Halting construction activity will do more harm than good for construction workers, community residents and the economy. Construction firms are already acting to ensure the safety and health of their employees in the face of the coronavirus outbreak. These new measures, which include increased hygiene and halting group gatherings of staff, are in addition to the fact construction workers already wear protective equipment, … Read more

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Construction Increases in January Year-Over-Year, Likely Impact of Coronavirus on Industry Not Reflected

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Construction employment increased in 32 states in January compared to both December and January 2019, according to an analysis by the Associated General Contractors of America of Labor Department data. However, association officials said the data was collected well before the coronavirus began to impact the economy and that construction employment levels are likely to decline beginning in March as the virus impacts many parts of the economy.   “The construction industry began 2020 with widespread employment gains, although fewer states had increases than in 2019,” said Ken Simonson, the association’s chief economist. “Exceptionally mild winter weather in many states … Read more

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