PCA Releases Spring 2021 Cement Consumption and Construction Activity Outlook

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Portland Cement Association Market Intelligence Group’s Senior Vice President and Chief Economist Ed Sullivan recently presented its annual Spring cement consumption forecast, predicting an increase in cement consumption for 2021 and 2022. “Remarkably, U.S. cement consumption recorded 2% growth during 2020. It is remarkable because COVID-19 exerted a terrible toll on the economy. Consumers bunkered down; states enacted rigid lockdowns. Real GDP declined to a rate not matched since 1946 as the economy transitioned from war time to peace time,” said Sullivan. “Nearly 9.5 million fewer jobs now exist compared to pre-COVID-19 levels. Many businesses did not survive the threat.  … Read more

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Podcast Looks at State of Construction Industry, Opportunities for Growth + More

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The latest installment in the podcast series “Topcon Talks Construction” is now available. Hosted by Murray Lodge, senior vice president of Construction for Topcon Positioning Group, the podcast covers a number of topics ranging from the state of economic recovery in the U.S. and North America to building tomorrow’s construction workforce. Guests for the newest installment include Kate Fox Wood, Washington-D.C.-based senior director of government relations for the Association of Equipment Manufacturers and Dariana Tani, economist for the Americas for GlobalData LLC, headquartered in London. Together with Lodge, they discuss ways in which the construction industry is moving forward in … Read more

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Construction Adds 110K Jobs in March, ABC Says Here Comes Tsunami of Growth

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The construction industry added 110,000 jobs in March, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. The industry has added 931,000 jobs since April 2020, recovering 83.6% of the jobs lost during earlier stages of the COVID-19 pandemic. The construction unemployment rate fell to 8.6% in March from 9.6% in February, but it is still 1.7 percentage points higher than in March 2020. Unemployment across all industries declined from 6.2% in February to 6.0% in March. A significant percentage of the job growth was registered in nonresidential construction, which added … Read more

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Construction Industry Needs to Hire 430,000+ Craft Professionals in 2021, Says ABC

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In 2021, construction companies will need to hire 430,000 more workers than they employed in 2020, according to an analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. The analysis also revealed that every $1 billion in extra construction spending generates an average of at least 5,700 construction jobs. “According to forecasts analyzed during the COVID-19 pandemic, an impressive 430,000 more construction workers still need to be hired in 2021 to meet the demand, evidence that the construction industry is powering America’s recovery and economic engine,” said ABC President and CEO Michael Bellaman. “ABC’s annual … Read more

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Marcum 4Q Commercial Construction Index Shows Signs of Optimism, Pessimism

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The Marcum Commercial Construction Index for the fourth quarter of 2020 reports that the industry has reasons for optimism and pessimism as it recovers from the recession caused by COVID-19. Total construction employment has rebounded since plummeting in March and April but remains 3.3% below pre-pandemic levels. The index is produced by Marcum LLP’s national Construction Services group.  “Nonresidential construction employment declined by about 644,000 jobs between February and May of 2020 as the pandemic’s grip took firm hold,” wrote Anirban Basu, author of the report and Marcum’s chief construction economist. “As of January 2021, the nonresidential industry had recovered about … Read more

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