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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Construction Hiring Still Exceptionally Slow in March

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The construction industry had 224,000 job openings on the last day of March, 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 23,000 last month but are down by 54,000 from the same time last year. “The industry’s labor market continues to be defined by an utter lack of churn,” said ABC Chief Economist Anirban Basu. “Construction industry hiring rebounded from February’s historically low level but remains … Read more

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Construction Employment Rebounds by 26,000 in March

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The construction industry added 26,000 jobs in March, 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 grown by 57,000 jobs, an increase of 0.7%. Nonresidential construction employment increased by 12,200 positions, with gains in all three subcategories. Nonresidential building added the most jobs, increasing by 4,500 positions. Nonresidential specialty trade and heavy and civil engineering added 3,900 and 3,800 jobs, respectively, in March. The construction unemployment rate was 6.7% in March. Unemployment across all industries dropped to 4.3%, but is still 0.1 percentage … Read more

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Slowest Rate of Construction Hiring on Record in February

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The construction industry had 202,000 job openings on the last day of February, 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 28,000 in February and are down by 53,000 from the same time last year. “Construction hiring fell to the slowest rate on record in February,” said ABC Chief Economist Anirban Basu. “At the same time, contractors remained reluctant to lay off workers while … Read more

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