WASHINGTON, D.C. — Even with many obstacles preventing a full-scale recovery for the overall U.S. economy, the design and construction industry appears to have reasons to be at least modestly optimistic in the coming months and into next year. A sharp spike in demand for industrial facilities so far this year, along with sustained demand for hotels and retail projects factors into what projects to be a 4.4 percent rise in spending this year for nonresidential construction projects — up from a projection of a 2.1 percent increase in the January Consensus Forecast. The American Institute of Architects semi-annual Consensus … Read more
AGC Releases Latest Construction Employment Data
Construction employment declined in 162 out of 337 metropolitan areas between June 2011 and June 2012, increased in 127 and stayed stagnant in 48, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said construction employment declined or remained unchanged in most metro areas as the public sector continued to cut back on investments in new construction and infrastructure and economic growth slowed. “The construction sector continues to shrink or stagnate in most metro areas as demand for new construction remains weak in too many places,” said Ken Simonson, the … Read more
AGC Analysis: "Construction Employment Rises in 25 States"
Construction employment increased in just half the states plus the District of Columbia from June 2011 to June 2012, but declined in a slim majority of states in the past month, according to an analysis of Labor Department data by the Associated General Contractors of America. “The latest state data show again how fragile and fragmentary the construction recovery is,” said Ken Simonson, the association's chief economist. “Although private sector demand for structures has risen in most states, improvement in single-family homebuilding is spotty and public investment is shrinking.” Simonson noted that 25 states and D.C. added construction jobs between … Read more
Associated General Contractors of America Releases June Employment Data
Construction employment stalled in June as more former construction workers left the industry, according to an analysis of new federal data released by the Associated General Contractors of America. The lack of job openings, along with the departure of experienced workers, suggests a potential skilled-labor shortage may be developing, construction association officials warned. “Employment in the construction industry has fluctuated within a very narrow range—1 percent above or below the June level of 5.5 million—for more than two years now,” said Ken Simonson, the association's chief economist. While the latest figure was 14,000 higher than one year earlier, the June … Read more
New Construction Starts to Rise 2% in 2012, Says Outlook Midyear Update
NEW YORK — McGraw-Hill Construction released its 2012 Dodge Construction Outlook Midyear Update projections, which revise the forecasts provided last October at the firm’s annual Outlook Conference in Washington, D.C. The Outlook Midyear Update predicts that total construction starts for the U.S. will increase 2 percent this year to $445 billion, up from the $434 billion reported for 2011. While slightly better than the flat performance for 2012 construction starts predicted last fall, the updated forecast still portrays an industry struggling to gain upward momentum. “The construction industry has yet to move from a hesitant up-and-down pattern to more sustained … Read more