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Economics

Construction Input Costs Rise 6.2 Percent Through August, Adding to Pressure From Labor Shortages and Outpacing Contractors' Bid Prices

September 12, 2018

Prices for goods and services used in construction climbed 6.2 percent over the past year, intensifying a cost squeeze on contractors coping with widespread labor shortages, according to an analysis by the Associated General Contractors of America of new Labor Department data.

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Construction Employment Rises by 23,000 Jobs in August and 297,000 for the Year Even as Labor Shortages Prevent Firms from Hiring More Workers

September 7, 2018

Construction employment increased by 23,000 jobs in August and by 297,000 jobs over the past year, reaching a 10-year high, while the industry’s unemployment rate stood at an all-time low, according to an analysis of new government data by the Associated General Contractors of America. Even as firms continued to expand, a new report finds that most firms are struggling to find enough workers to keep up with demand.

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Construction Employment Rises in 45 States and D.C. from July 2017 to July 2018 while 29 States and D.C. Add Construction Jobs for the Month

August 17, 2018

Forty-five states and the District of Columbia added construction jobs between July 2017 and July 2018, while 29 states and D.C. added construction jobs between June and July, according to an analysis by the Associated General Contractors of America of Labor Department data released today. Association officials cautioned that continued job gains may depend on swiftly implementing new training and education legislation to equip students and workers to enter the industry.

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Construction Input Costs Are Mixed in July But Pressure Intensifies on Contractors as Year-Over-Year Increases Outstrip Bid Prices

August 9, 2018

Prices for goods and services used in construction costs were unchanged overall from June to July, but months of steep increases over the past year have squeezed the profits of contractors, whose bid prices have not matched the cost shocks, according to an analysis by the Associated General Contractors of America of new Labor Department data. Association officials warn that the impact of recent and threatened tariffs are likely to put contractors in further financial peril.

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Construction Employment Reaches 10-Year High as Industry Adds 19,000 Jobs in July and 303,000 for the year; Industry Unemployment Sets Record Low

August 3, 2018

Construction employment increased by 19,000 jobs in July and by 303,000 jobs over the past year, reaching a 10-year high, while the industry’s unemployment rate and level hit an all-time low, according to an analysis of new government data by the Associated General Contractors of America. Association officials said it was likely firms would have added even more workers if they could find qualified candidates to hire.

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Construction Employment Increases in 272 Metros Between June 2017 & 2018 as Strong Demand, Growing Economy Offset Labor Tariff Woes

July 31, 2018

Construction employment increased in 272 (76 percent) out of 358 metro areas between June 2017 and June 2018

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Construction Employment Rises In 43 States and D.C. from June 2017 to June 2018 while 32 States and D.C. Add Construction Jobs for the Month

July 20, 2018

Forty-three states and the District of Columbia added construction jobs between June 2017 and June 2018, while 32 states and D.C. added construction jobs between May and June, according to an analysis by the Associated General Contractors of America of Labor Department data released today. Association officials cautioned that continued job gains may depend on improving the training and education pipeline for workers to enter the industry.

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Construction Cost Data Shows Effect of Trade Disputes as Aluminum and Steel Costs Increase, Rate of Cost Increases Hits Recent High

July 11, 2018

Construction costs accelerated again in June, with steep increases for a wide range of building and road construction materials as tariffs against foreign goods come into effect, according to an analysis by the Associated General Contractors of America of new Labor Department data. Association officials say that contractors will have to assume much of the costs as tariffs increase the costs of many key construction materials.

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CONSTRUCTION EMPLOYMENT INCREASES IN 263 METROS BETWEEN MAY 2017 & 2018; LACK OF TRAINED WORKERS THREATENS FURTHER JOB GAINS, ASSOCIATION WARNS

June 26, 2018

Merced, Calif., Midland and Dallas-Plano-Irving, Texas Have Largest Gains as 63 Areas Set May Records for Construction Employment; Newark, N.J.-Pa. and Bloomington, Ill. Have Biggest Annual Decreases

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Construction Employment Rises in 42 States and D.C. from May 2017 to May 2018 while 28 States Add Construction Jobs for the Month

June 15, 2018

Forty-two states and the District of Columbia added construction jobs between May 2017 and May 2018, while 28 states added construction jobs between April and May, according to an analysis by the Associated General Contractors of America of Labor Department data released today. Association officials warned that soaring construction costs, aggravated by new tariffs on steel and aluminum, could trigger project cancellations and job losses.

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