ABC: Nonresidential Construction Adds 11,300 Jobs in May

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The construction industry added 4,000 jobs on net in May, 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 126,000 jobs, an increase of 1.5%. Nonresidential construction employment increased by 11,300 positions, with growth in all three subcategories. Nonresidential specialty trade added the most jobs, increasing by 4,500 positions, while heavy and civil engineering and nonresidential building added 3,700 and 3,100 jobs, respectively. The construction unemployment rate decreased to 3.5% in May. Unemployment across all industries remained unchanged at 4.2%. “The nonresidential … Read more

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ABC: Construction Job Openings Decreased by 3,000 in April, Down 45% Since December 2023

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The construction industry had 248,000 job openings on the last day of April, according to an Associated Builders and Contractors’ analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings decreased by 3,000 last month and are down by 78,000 from the same time last year. “Construction labor market churn remained unusually slow in April,” said ABC Chief Economist Anirban Basu. “The rates of hires, layoffs and quits are all low by historical standards, and … Read more

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ABC: Nonresidential Construction Spending Dips .1% in April

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National nonresidential construction spending decreased .1% in April, 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 $1.248 trillion. Spending was down on a monthly basis in 6 of the 16 nonresidential subcategories. Private nonresidential spending was down .5%, while public nonresidential construction spending was up .5% in April. “Construction spending slipped in April as headwinds like trade policy uncertainty, high interest rates and tight lending standards continued to batter industrywide momentum,” said ABC Chief Economist Anirban Basu. “Nearly 22% of contractors reported tariff-related … Read more

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ABC: Construction Materials Prices Tame in April Despite Rising Iron, Steel Costs

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Construction input prices decreased 0.1% in April compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices increased 0.2% for the month. Overall construction input prices are 0.1% higher than a year ago, while nonresidential construction input prices are 0.2% higher. Prices decreased in all three energy categories last month. Natural gas prices were down 7.1%, while prices for unprocessed energy materials and crude petroleum were down 5.0% and 4.9%, respectively. “Construction input prices declined in April, but that was largely due to … Read more

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ABC Releases March Construction Spending Data

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Construction input prices increased 0.5% in March, according to an Associated Builders and Contractors’ analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices increased 0.6% for the month. Both overall and nonresidential construction input prices are 0.8% higher than one year ago. While crude petroleum prices fell considerably in March, that decline was more than offset by rapidly rising natural gas, steel, copper and lumber prices. “Construction input prices increased at a rapid pace for the third consecutive month in March and have now risen at a 9.7% annualized rate through the first quarter … Read more

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