Nonresidential Construction Employment Increases, Says ABC

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The construction industry added 23,000 jobs on net in October, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has increased by 219,000 jobs, an increase of 2.8%.  Nonresidential construction employment increased by 8,400 positions on net, with growth in all three subcategories. Nonresidential specialty trade added 4,200 positions, while nonresidential building and heavy and civil engineering added 2,600 and 1,600 jobs, respectively. The construction unemployment rate increased to 4% in October. Unemployment across all industries increased from 3.8% in September to 3.9% last month.

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Nonresidential Construction Spending Down 1% in March

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National nonresidential construction spending was down 0.8% in March, according to an Associated Builders and Contractors’ analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $839.2 billion for the month. Spending was down on a monthly basis in 11 of 16 nonresidential subcategories. Private nonresidential spending was down 1.2%, while public nonresidential construction spending was down 0.3% in March. On a year-over-year basis, nonresidential construction spending is up 5.6%, led by 31.9% growth in construction related to manufacturing. “March’s construction spending numbers aren’t adjusted for inflation and are actually worse than … Read more

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Input Prices for Nonresidential Construction Climb 21% between March 2021, March 2022

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Prices of materials and services used in new nonresidential construction jumped more than 21% from March 2021 to March 2022, according to an analysis by the Associated General Contractors of America of government data. “Construction firms have been burdened with cost increases of 20% per year or more since early 2021,” said Ken Simonson, the association’s chief economist. “Since contractors can seldom pass along increases on projects that are underway, these extreme price hikes threaten the viability of many firms. Unfortunately, the continuing war in Ukraine is likely to keep input costs elevated for many more months, if not longer.” … Read more

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National Association Reports Construction Firms Add 44K Jobs in October, Struggle with Supply Chain Challenges

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The construction industry added 44,000 jobs between September and October as nonresidential construction firms posted back-to-back increases for the first time since January, according to an analysis of government date by the Associated General Contractors of America. Association officials said the employment gains were welcome news but cautioned that employment levels remain well-below pre-pandemic totals as firms struggle with supply chain problems, labor shortages and federal inaction on infrastructure funding. “It is encouraging to see continuing job growth in nonresidential construction but the industry remains far behind the overall economy in recovering all of the job losses from the pandemic,” … Read more

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Construction Officials Renew Push for Immediate Removal of Tariffs on Key Construction Materials, Urge Congress and Administration to Take Steps to Repair ‘Every Level’ of Supply Chain

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The prices contractors pay for construction materials far outstripped the prices contractors charge in the 12 months ending in September, despite a recent decline in a few materials prices, while delivery problems intensified, according to an analysis by the Associated General Contractors of America of government data. Association officials urged Washington officials to end tariffs on key construction materials and take steps to help unknot snarled supply points. “Construction materials costs remain out of control despite a decline in some inputs last month,” said Ken Simonson, the association’s chief economist. “Meanwhile, supply bottlenecks continue to worsen.” The producer price index … Read more

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