Economics

Forty-two states added construction jobs between May 2016 and May 2017 amid growing demand for construction services, while 25 states and the District of Columbia lost construction jobs between April and May as firms struggle to find enough workers, according to an analysis by the Associated General Contractors of America of Labor Department data released today. Association officials said workforce shortages appear to be impacting construction employment in parts of the country.

Construction spending is at record levels for the second straight month in March and is up 4.9 percent for the first three months of year compared to the same period in 2016, despite dipping slightly compared to February, according to an analysis by the Associated General Contractors of America.  Association officials said many firms are eager to see details of the President’s pending infrastructure plan, which should boost construction demand.

Construction employment increased by 6,000 jobs in March as a February hiring surge prompted by mild winter weather in much of the country prompted firms to hire fewer people last month, according to an analysis of new government data by the Associated General Contractors of America. Association officials said declining public-sector investments in construction and infrastructure could impact future construction hiring unless the administration and Congress enact a new funding measure.

The cost of materials used in construction rose markedly faster than the price of completed buildings, according to a new analysis of federal producer price data released today by the Associated General Contractors of America. Association officials cautioned that potential restrictions on the use of imported construction materials threaten to drive up the price of infrastructure, buildings and new homes and apartments.