Construction Employment Rebounds in March, Rising Costs + More Threaten Outlook Says AGC

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Construction employment climbed by 110,000 in March as the industry recovered from severe winter weather that pushed employment down by 56,000 in February, according to a recent analysis by the Associated General Contractors of America of government data. Association officials said they were encouraged by the recent job gains and the potential for new infrastructure investments. But they cautioned that rising prices and erratic delivery schedules for key construction materials — as documented in their recent Construction Inflation Alert – and continued project cancellations could undermine the sector’s recovery. “The rebound in March is certainly good news, but contractors face … 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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Private Nonresidential Construction Increases First Time in 7 Months

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Construction spending rallied in January as private nonresidential construction increased for the first time in seven months, according to an analysis of new federal construction spending data by the Associated General Contractors of America. Association officials said that nonresidential construction spending remains below pre-pandemic levels and that rising materials prices and proposed labor law changes threaten the sector’s recovery.   “Despite a modest upturn in January, spending on private nonresidential construction remained at the second-lowest level in more than three years and was 10% below the January 2020 spending rate,” said Ken Simonson, the association’s chief economist. “All 11 of … Read more

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Construction Employment Stalls, New Measures Threaten to Undermine Recovery of Sector

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Construction employment stagnated in January, ending eight months of recovery from the pandemic-related losses of early 2020, according to an analysis by the Associated General Contractors of America of government data. Association officials added that new measures being considered in Congress, including the PRO Act and the National Apprenticeship Act, threaten to undermine the sector’s recovery by disrupting ongoing projects and hampering employers’ ability to train workers.   “The stagnation in construction employment in January may foreshadow further deterioration in the industry as projects that had started before the pandemic finish up and owners hold off on awarding new work,” … Read more

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Nonresidential Construction Employment Expands in October, says ABC

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The construction industry added 84,000 net new jobs in October, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. During the last six months, the industry has added 789,000 jobs, recovering 73% of the jobs lost during earlier stages of the pandemic. Nonresidential construction employment added 59,700 jobs on net in October. All three nonresidential subcategories experienced increases; the largest was registered among nonresidential specialty trade contractors, which added 27,500 positions on net. Heavy and civil engineering added 18,800 jobs while nonresidential building added 13,400. The construction unemployment rate was 6.8% … Read more

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