Construction Employment Declines in August, Reports AGC

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Construction employment declined in 153 out of 358 metro areas between August 2014 and August 2015, nearly matching the 163 areas that added construction jobs, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials noted that the number of metro areas losing construction jobs is on the rise amid growing uncertainty about federal funding for construction programs and growing shortages of qualified construction workers. “The fact that fewer than half of metro areas added construction jobs at a time when there were gains in nearly three-fourths of the states suggests … Read more

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Worker Shortage? Women Can Fill the Gap

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By Doreen DiPolito According to the results of an industry-wide survey recently released by the Associated General Contractors of America, an overwhelming majority of construction firms report trouble finding qualified craft workers.   iCIMS, a firm specializing in talent acquisition solutions, asserts that the industry is facing the second largest talent shortage of all industries nationwide (second only to the pharmaceutical industry) with just 94 applicants per 100 jobs, while the Institute for Supply Management recently added construction labor to its list of “commodities in short supply.” Demand for skilled workers continues to grow; the U.S. Department of Commerce reported … Read more

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ELFA Survey Reports Overall New Business 2014 Volume Growth at 6.7%

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WASHINGTON, D.C. — New business volume grew 6.7 percent in the equipment finance industry in 2014, according to the 2015 Survey of Equipment Finance Activity released by the Equipment Leasing and Finance Association. The rise in new business volume marked the fifth consecutive year that businesses increased their spending on capital equipment. The SEFA report, now celebrating its 40th year, covers key statistical, financial and operations information for the $903-billion equipment finance industry, based on a comprehensive survey of 100 ELFA member companies. The report includes an expanded executive summary and is available at www.elfaonline.org/SEFA.   ELFA also released a … Read more

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Construction Employment Sees Slower Increase Amid Worker Shortages

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Construction employment expanded in 36 states and the District of Columbia between August 2014 and August 2015 while 25 states added jobs between July and August, according to a recent analysis of Labor Department data by the Associated General Contractors of America. Association officials noted that job gains may be lagging as many firms report they are having a hard time finding qualified workers to employ. “While half the states added construction jobs in August, construction spending data and industry reports suggest demand for projects remains very strong,” said Ken Simonson, chief economist for the association. “The apparent softness in … Read more

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Construction Unemployment Falls to Lower Level Since August 2001; Job Growth Slows

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The number of unemployed workers with construction experience dropped to the lowest total for August since 2001, as hiring slowed despite robust demand for construction, according to an analysis by the Associated General Contractors of America. Association officials cautioned that the hiring slowdown likely has more to do with the lack of available workers in many parts of the country than it does low demand. “The recent slowdown in construction hiring appears to reflect difficulty in finding qualified employees rather than lack of projects needing workers,” said Ken Simonson, the association’s chief economist. “The pool of qualified construction workers will … Read more

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