ABC: Construction Materials Costs Fall With Oil Prices in June

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Construction input prices decreased 1.1% in June 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 also decreased 1.1% for the month. Overall construction input prices are 7.6% higher than one year ago, while nonresidential construction input prices are 7.4% higher. Prices decreased in 2 of the 3 energy subcategories last month. Crude petroleum prices declined 12.1%, and unprocessed energy materials fell 8.1%. Natural gas prices were up 16.6% in June. “Aggregate construction input prices receded in June due to the steep decline … Read more

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ABC: Construction Job Openings Rise to 10-Month High in May, Hiring Remains Historically Slow

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The construction industry had 298,000 job openings on the last day of May, 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 increased by 32,000 last month and are up by 76,000 from the same time last year. “Construction job openings rose to a 10-month high in May,” said ABC Chief Economist Anirban Basu. “Unfortunately, that increase likely reflects exceptional demand for certain occupations critical to data center … Read more

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ABC: Construction Materials Prices Surge 2.6% in May

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Construction input prices increased 2.6% in May compared to the previous month, according to an Associated Builders and Contractors’ analysis of U.S. Bureau of Labor Statistics Producer Price Index data. Overall construction materials prices are 9.6% higher than one year ago, while nonresidential construction input prices are 9.7% higher. Prices increased in 2 of the 3 energy subcategories last month. Crude petroleum prices increased 11.8% and unprocessed energy materials increased 6.9%. Natural gas prices were down 18.2% in May. “Construction input prices surged again in May and are now up nearly 10% year over year,” said ABC Chief Economist Anirban Basu. … Read more

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Construction Job Openings Increased By 25,000 in April

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The construction industry had 259,000 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 increased by 25,000 last month and are up by 52,000 from the same time last year.  “This release of April data suggests that contractors are increasingly struggling to fill open positions,” said ABC chief economist Anirban Basu. “Fewer construction workers were laid off in April … Read more

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Construction Materials Prices Soar in April, Up 6.2% Since January

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Construction input prices increased 1.7% 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 1.8% for the month. Overall construction input prices are 7.0% higher than one year ago, while nonresidential construction input prices are 7.4% higher. Prices increased in all three energy subcategories last month. Crude petroleum prices increased 11.3%, while unprocessed energy materials and natural gas prices were up 9.2% and 4.9%, respectively, in April. “Construction input prices surged again in April,” said ABC Chief Economist Anirban … Read more

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