New Data Shows Signs of Construction Recovery, Need for Federal Assistance

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A new survey by the Associated General Contractors of America, and data from construction technology firm Procore, show that construction activity is returning to pre-coronavirus levels in many parts of the country and some firms are adding workers.The new economic data, however, also shows some future projects are being canceled and many others are being delayed by supply chain issues and labor shortages, underscoring the need for additional federal recovery measures, association officials noted. “Many of the immediate economic impacts of the coronavirus have passed and, as a result, activity and hiring are up, a bit,” said Ken Simonson, the … Read more

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AGC Reports Construction Jobs Rise by 464K, Remain Below Recent Peak

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Construction employment rebounded by 464,000 jobs in May, but the total remained 596,000 below the latest peak in February and the industry’s 12.7% unemployment rate was the highest for May since 2012, according to an analysis by the Associated General Contractors of America of government data. Association officials cautioned that the future job losses are likely as temporary federal support programs end, state and local officials deal with tighter budgets and private sector demand declines later this year.   “The huge pickup in construction employment in May is good news and probably reflects the industry’s widespread receipt of Paycheck Protection … Read more

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Construction Employment Declines in Majority of Metro Areas, AGC Says New Transportation Proposal Could Help Restore Jobs

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Construction employment declined in more than nine out of 10 metro areas from March to April, a time when industry employment typically increases in most locations, an analysis by the Associated General Contractors of America of new government data shows. Association officials said new federal transportation funding could help restore many lost construction jobs, but cautioned that new legislation released by House Democrats includes new regulatory measures that could undermine the broader goals of the measure.   “Today’s employment report shows how few areas were left unscathed by April’s unprecedented job losses,” said Ken Simonson, the association’s chief economist. “Sadly, … Read more

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New Monthly Job Loss Data Foreshadows More Layoffs Amid Project Cancellations, State Cutbacks, Reports AGC

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Construction employment declined in 20 states and D.C. in March, aligning with the results of a recent survey by the Associated General Contractors of America that found growing layoffs amid new project cancellations and state funding constraints. Association officials warned that these cancellations mean massive job losses are likely to occur soon in even more states unless Congress helps cover rapidly declining state revenues, adds funding for Paycheck Protection Program loans and takes other measures to help the industry recover. “While construction employment declined in many parts of the country last month, far more states, local governments and project owners … Read more

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COVID-19 Cuts Nonresidential Construction Employment in March, Says ABC

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Construction industry employment declined by 29,000 in March, according to an Associated Builders and Contractors’ analysis of data released by the U.S. Bureau of Labor Statistics. Nonresidential construction employment declined by 24,600 in March. All three nonresidential segments registered job losses, with the largest decrease experienced in nonresidential building (-10,700) followed closely by heavy and civil engineering (-10,200). Nonresidential specialty trade lost 3,700 jobs on net. The construction unemployment rate was 6.9% in March, up 1.7 percentage points from the same time one year ago. Unemployment across all industries rose from 3.5% in February to 4.4% last month, a direct … Read more

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