High Level of Construction Activity Continues to Stretch Skilled Labor Availability

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Turner Construction Company announced that the Fourth Quarter 2019 Turner Building Cost Index—which measures costs in the non-residential building construction market in the United States—has increased to a value of 1177. This represents a 1.29% quarterly increase from the third quarter of 2019 and a 4.84% annual increase from the fourth quarter of 2018, respectively. “We continue to see the national construction market fairly busy with several large projects starting in the fourth quarter,” said Attilio Rivetti, the Turner vice president responsible for compiling the cost index. Attilio continued, “Raw material costs in the fourth quarter of 2019 have been … Read more

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Turner’s First Quarter 2016 Building Cost Index Reflects Continued Growth in Construction Activity

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The First Quarter 2016 Turner Building Cost Index—which measures costs in the nonresidential building construction market in the United States—has increased to a value of 970, according to Turner Construction Company. This reflects a 1.15 percent increase from fourth quarter 2015 and a 4.64 percent yearly increase from first quarter 2015. “The shortage of skilled labor is outweighing the impact of declining material prices,” said Attilio Rivetti, Turner’s vice president responsible for preparing the cost index. “As the volume of work remains relatively high, we expect subcontractors to continue to be strategic in pursuits, ultimately resulting in upward cost pressures.” … Read more

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