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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Nonresidential Construction Adds Healthy 19,000 Jobs in April

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The construction industry added 9,000 jobs on net in April, 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 50,000 jobs, an increase of 0.6%. Nonresidential construction employment increased by 19,000 positions, with gains in all three subcategories. Nonresidential specialty traded added the most jobs, increasing by 12,600 positions. Nonresidential building and heavy and civil engineering added 5,600 and 800 jobs, respectively, in April. The construction unemployment rate was 3.8% in April. Unemployment across all industries remained unchanged at 4.3% and is 0.1 … Read more

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