National nonresidential construction spending declined 1.2% in December 2019 but is up 4.4% on a year-ago basis, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $779.6 billion in December. Private nonresidential spending fell 1.8% on a monthly basis and is down by 0.1% compared to December 2018. Public nonresidential construction spending also slipped in December, falling 0.4% for the month. On a year-over-year basis, public nonresidential spending is up 11.2%. “The transition from a private construction-led recovery to a public construction-led recovery is complete,” … Read more

The construction industry added 10,000 net new jobs in October, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 148,000 jobs or 2%. Nonresidential construction employment increased by 4,000 jobs on net in October and is up 2.1% over the past year. On a monthly basis, however, both the nonresidential building and nonresidential specialty trade contractors segments lost jobs, which comports with the recent decline in investment in structures, according to the third quarter gross domestic product release. The construction unemployment rate … Read more