Construction Employment Increases Year-Over-Year, Demand for Construction Grows

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Construction employment increased in 180 out of 358 metro areas, was unchanged in 46 and declined in 132 between October 2014 and October 2015, according to a new analysis of federal employment data recently released by the Associated General Contractors of America. Association officials attributed the fact that over half of the nation’s metro areas added construction jobs to growing demand for construction but cautioned that labor shortages could be impeding employment growth in parts of the country. “Contractors are adding workers in many parts of the country again, which is consistent with the robust growth that is occurring in … Read more

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Construction Employment Rebounds in October with Year-Over-Year Growth

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Construction job growth rebounded in October as 43 states and the District of Columbia recorded employment increases from a year earlier, while 35 states added construction jobs in the past month, according to analysis of Labor Department data recently released by the Associated General Contractors of America. Association officials cautioned, however, that sustaining such widespread job gains will require support at all levels of government for construction training programs. “Construction job gains were more widespread than at any time since last February,” said Ken Simonson, chief economist for the association. “Several states that had recently experienced year-over-year job losses began … Read more

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Why Diversity is a Key to the Construction Industry’s Future

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Increasingly, the construction industry is embracing the tenets of diversity and inclusion. This shift is propelled by a business case that highlights projected shortcomings related to talent and skilled labor. A recent industry report lays out the factors driving this trend. Industry trending According to the Bureau of Labor Statistics, the U.S. unemployment rate has dropped to a seven-year low of 5.1 percent. Simultaneously, U.S. labor-force participation has dipped to a 30-year low of 62.4 percent, and a global workforce shortage of 95 million people is projected by 20201. When combined, this all translates to a massive shortage of talent, … Read more

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Construction Employment at Highest Level since 2009, Unemployment Rate at 6.2%

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Construction firms added 31,000 workers in October as the industry’s unemployment rate declined to 6.2 percent amid robust demand for construction, according to a recent analysis by the Associated General Contractors of America. Association officials noted that construction employment is now at the highest level since February 2009 as the sector continues to recover from the downturn. “The industry continues to recover while the hiring slowdowns it experienced during the summer were prompted more by labor shortages than they were any slump in demand,” said Ken Simonson, the association’s chief economist. “Construction firms appear to have had an easier time … Read more

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Nonresidential Construction Spending Rebounds in October

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Nonresidential construction spending bounced back in October, expanding 1 percent on a monthly basis and 4.3 percent year over year, according to a recent release from the U.S. Census Bureau. Spending for the month totaled $611.8 billion on a seasonally adjusted, annualized basis. Additionally, the government revised the September spending figure up to $605.8 billion from $596.1 billion. “This month's increase in nonresidential construction spending is far more consistent with the anecdotal information floating around the industry, which generally indicates that firms are becoming busier and that backlog is expanding,” said Associated Builders and Contractor Chief Economist Anirban Basu. “Although … Read more

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