Construction Employment Falters in March, Says ABC

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WASHINGTON, D.C. — The U.S. construction industry lost 15,000 jobs on net in March, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics. This represents a significant reversal from February, when the industry added a post-recession high of 65,000 net new jobs (upwardly revised from more than 61,000). The construction sector has added 228,000 net new jobs over the past twelve months, which represents a substantial 3.3 percent increase in the number of workers directly employed by the industry. The nonresidential construction segment lost 8,200 jobs on net in March. While the … Read more

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Nonresidential Construction Maintains Momentum in December, ABC Says

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WASHINGTON, D.C. – Nonresidential construction spending expanded 0.8 percent in December, totaling $720.4 billion on a seasonally adjusted basis, according to Associated Builders and Contractors’ analysis of data released by the U.S. Census Bureau. This represents the fifth consecutive month during which the pace of nonresidential spending has increased. Nonresidential spending expanded 0.1 percent on a year-over-year basis and sits at its highest level since March. Private nonresidential construction spending increased 1.1 percent for the month, but is down 2.5 percent year over year, while public nonresidential spending increased 0.4 percent for the month and 4.4 percent for the year. … Read more

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Dodge Momentum Index Moves Higher in June

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NEW YORK, N.Y. – The Dodge Momentum Index took another step forward in June, increasing 1.1 percent to 141.1 (2000=100) from its revised May reading of 139.6. The momentum index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. June’s lift was due to a 4.8 percent advance by the institutional component of the momentum index, while the commercial component fell 1.3 percent. The momentum index has exhibited substantial strength since mid-2016, with the institutional and commercial components … Read more

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Construction Input Prices Flat, Crude Petroleum Prices Plummet, ABC Says

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WASHINGTON, D.C. — Construction input prices remained unchanged in May, ending five consecutive months of price expansion, according to analysis of  Bureau of Labor Statistics data released by Associated Builders and Contractors. Construction input prices expanded 3.4 percent on a year-over-year basis. Nonresidential construction input prices also remained unchanged on a monthly basis but increased by 3.1 percent on a yearly basis. Only crude petroleum prices experienced a significant month-over-month change in May, with prices falling 19.6 percent from April’s level. Natural gas prices remain significantly higher—up 66 percent—from the same time one year ago. “Since March 2016, construction input … Read more

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Construction Job Growth Led by Nonresidential Sector, But Remains Tepid

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WASHINGTON, D.C. — National construction employment remained largely unchanged for the second consecutive month, adding 5,000 net new jobs on a seasonally adjusted basis in April, according to analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. The nonresidential construction sector added 3,200 net new jobs in April after adding 8,500 net jobs in March (revised down from 13,300), while the residential sector added just 900 net jobs for the month. Construction employment expanded 2.6 percent on yearly basis, well above the year-over-year growth rate for all nonfarm industries (+1.6 percent). “Today’s employment report confirms … Read more

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