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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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. “Construction materials prices dipped in June, perhaps … Read more

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ABC: Construction Unemployment Rate Plunges to Second Lowest Ever Recorded

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The construction industry added 27,000 jobs on net in June, 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 235,000 jobs, an increase of 2.9%.  Nonresidential construction employment increased by 21,200 positions on net, with growth in all three subcategories. Nonresidential specialty trade contractors added the most jobs for the month, (+9,200 jobs), followed by heavy and civil engineering (+6,300 jobs) and nonresidential building (+5,700 jobs). The construction unemployment rate decreased to 3.3% in June. Unemployment across all industries rose from 4.0 in May to 4.1% last month. “Despite indications that … Read more

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