Construction Input Prices Down in September

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Construction input prices decreased .9% 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 also decreased .9% for the month. Prices decreased in two of the three energy subcategories last month. Crude petroleum prices were down by 16.7%, while unprocessed energy materials prices were down 12.6%. Natural gas prices rose 2.4% in September. Overall construction input prices are 1.9% lower than a year ago, while nonresidential construction input prices are 2.1% lower. “The decline in construction input costs observed in … Read more

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Construction Input Prices Inch Up in August, but Lower Than 1 Year Ago

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Construction input prices increased .1% 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. Nonresidential construction input prices increased .2% for the month. Prices decreased in all three energy subcategories last month. Natural gas prices fell by 29.8%, while unprocessed energy materials and crude petroleum prices declined by 7.5% and 4.2%, respectively. Overall construction input prices are .7% lower than a year ago, while nonresidential construction input prices are down by .9%. “Construction input prices are now down almost a full percentage point over … Read more

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August Nonresidential Construction Employment Up by 28,300, ABC Says

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The construction industry added 34,000 jobs on net in August, 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 grew by 228,000 jobs, an increase of 2.8%. Nonresidential construction employment increased by 28,300 positions on net, with growth in all three subcategories. Nonresidential specialty trade added the most jobs on net, increasing by 14,000 positions. Heavy and civil engineering and nonresidential building added 13,500 and 800 jobs, respectively. The construction unemployment rate fell to 3.2% in August. Unemployment across all industries declined from 4.3% in … Read more

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Survey Says: ABC Members Invested $1.6 Billion to Upskill Construction Workforce

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Associated Builders and Contractors recently released its 2024 Workforce Development Survey, which found its member contractors invested $1.6 billion to provide craft, leadership and health and safety education to more than 1.3 million course attendees nationwide in 2023, up from $1.5 billion in 2022 and on track with $1.6 billion in 2021. Other key findings included: Safety education accounts for the greatest share of total workforce investment at 59%, which has remained stable since 2022 ABC contractors invested an average of 7.5% of payroll on workforce development in 2023, slightly down from 8% in 2022 Trade and specialty contractors continued … Read more

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Prices of Construction Materials Fall 0.3%

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Construction input prices fell 0.3% 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. Nonresidential construction input prices declined 0.4% for the month. Overall construction input prices are 1.1% higher than a year ago, while nonresidential construction input prices are 0.7% higher. Prices increased in 2 of 3 energy subcategories last month. Natural gas prices were up 36.3%. The aggregate price of unprocessed energy materials was up 4.7%. Crude petroleum prices were down 0.2% for the month.

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