Construction Unemployment Rates Improve in 33 States Year-Over-Year, ABC Says

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Construction Unemployment Rates Improve in 33 States Year-Over-Year, ABC Says WASHINGTON, D.C. – October not seasonally adjusted construction unemployment rates were down in 33 states and the nation on a year-over-year basis, according to a recent release by Associated Builders and Contractors. The national NSA construction unemployment rate of 5.7 percent was down 0.5 percent from a year ago, according to data from the Bureau of Labor Statistics. This was the lowest national October construction unemployment rate since 2006, when it was 4.5 percent. BLS data also reported that the industry employed 175,000 more people than in October 2015. “October … Read more

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Construction Input Prices Dip in August

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WASHINGTON, D.C. – Both nonresidential construction input prices and overall input prices fell in August as energy prices retrenched, according to a recent analysis of the Bureau of Labor Statistics Producer Price Index released by Associated  Builders and Contractors. Nonresidential construction input prices were down 0.2 percent on a month-over-month basis and 1.7 percent on a year-over-year basis. “The fact that overall construction input prices have remained stable is more important in the current context than it might be normally,” said ABC Chief Economist Anirban Basu. “With industry labor costs now rising aggressively and the subcontracting community generally busy, falling … Read more

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Construction Input Prices Stable in July

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WASHINGTON, D.C. – Nonresidential construction input prices were unchanged in July according to a recent analysis of the Bureau of Labor Statistics Producer Price Index released by Associated Builders and Contractors. Input prices for both the nonresidential construction segment and construction as a whole are 2.3 percent lower than they were a year ago. “ABC has been predicting relative stability in input prices, and that is precisely what July’s report delivered,” said ABC Chief Economist Anirban Basu. “A weak and disappointing global economy has not been able to drag prices higher. Persistently low prices have placed a lid on the … Read more

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Nonresidential Construction Growth on Pace with Strong July Jobs Report

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WASHINGTON, D.C. – The U.S. construction industry has rebounded strongly, adding 14,000 net new jobs in July according to an analysis of Bureau of Labor Statistics data recently released by Associated Builders and Contractors. This gain comes after the construction sector lost a combined 27,000 jobs from April to June. The construction industry’s unemployment rate inched lower in July, shedding a tenth of a percentage point to reach 4.5 percent, the industry’s lowest unemployment rate since October 2006. The nonresidential sector accounted for a majority of July’s gains, adding 11,500 net new jobs. The residential sector remained stagnant for the … Read more

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Construction Input Prices Continue Ascent, Could Pressure Margins

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WASHINGTON, D.C. — Construction input prices expanded in June, rising 1.1 percent on a monthly basis according to a recent analysis of the Bureau of Labor Statistics Producer Price Index released by Associated Builders and Contractors. This report marks the fourth consecutive month that input prices have expanded following eight straight months of decline. “Commodity prices stabilized in March and in many cases, including natural gas and oil, have been edging higher,” said ABC Chief Economist Anirban Basu. “Accordingly, construction materials prices are now on the rise, which all things being equal translate into smaller profit margins. Alternatively, rising costs … Read more

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