ABC: Construction Employment Falls for Third Straight Month in August

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The construction industry lost 7,000 jobs in August, 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 58,000 jobs, an increase of 0.7%. Nonresidential construction employment decreased by 1,200 positions on net, with losses in 2 of the 3 subcategories. Nonresidential building lost 3,300 jobs, while nonresidential specialty trade lost 200 positions. Heavy and civil engineering added 2,300 jobs for the month. The construction unemployment rate dropped to 3.2% in August. Unemployment across all industries increased from 4.2% in July to 4.3% … Read more

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ABC: Construction Quit Rate Plummets to 9-Year Low

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he construction industry had 306,000 job openings on the last day of July, 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 64,000 last month and are up by 77,000 from the same time last year. “The construction job opening rate rose to the highest level in over a year during July,” said ABC Chief Economist Anirban Basu. “Given the ongoing decline in nonresidential construction … Read more

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ABC: Construction Materials Prices Jump 0.4% in July

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Construction input prices increased 0.4% in July compared to the previous month, according to an Associated Builders and Contractors analysis’ of U.S. Bureau of Labor Statistics’ Producer Price Index data released. Nonresidential construction input prices also increased 0.4% for the month. Overall construction input prices are 2.2% higher than a year ago, while nonresidential construction input prices are 2.6% higher. Prices increased in 2 of the 3 energy categories last month. Crude petroleum and unprocessed energy materials prices were up 1.7% and 0.5%, respectively, while natural gas prices decreased 2.1% in July. “Construction materials prices continued to increase too quickly … Read more

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ABC: Nonresidential Construction Spending Contracts in 6 of Past 7 Months

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National nonresidential construction spending decreased 0.1% in June, 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 $1.241 trillion. Spending was down on a monthly basis in 9 of the 16 nonresidential subcategories. Private nonresidential spending fell 0.3% for the month, while public nonresidential construction spending inched 0.1% higher. “Nonresidential construction spending declined in June and has now contracted in 6 of the past 7 months,” said ABC Chief Economist Anirban Basu. “Recent declines would be worse if not for ongoing increases in public … Read more

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Construction Hiring Remains Subdued in June

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The construction industry had 246,000 job openings on the last day of June, 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 14,000 last month but are down by 39,000 from the same time last year. “While industrywide job openings increased in June, the share of all construction positions that are unfilled remains low by recent standards,” said ABC Chief Economist Anirban Basu. “More importantly, … Read more

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