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.
Construction employment slipped by 3,000 jobs in December, while average hourly earnings accelerated, according to an analysis of new government data by the Associated General Contractors of America. Association officials noted that recent construction spending numbers and their own survey of members suggest demand for construction remains strong, suggesting that the lack of hiring may be due to a shortage of available workers. “This report presents mixed signals about the state of the construction industry,” said Ken Simonson, the association's chief economist. “Although a dip in employment might normally be a sign of declining demand, in this case the industry is raising wages and taking other steps to attract and retain workers. Construction spending in November hit a 10-year high, with one-month and year-over-year increases in all major segments. Looking ahead, contractors say they expect more work in every category in 2017 than in 2016.” Read full news release here.
Thirty-four states added construction jobs between November 2015 and November 2016 while construction employment increased in 29 states and the District of Columbia during the past month, according to an analysis of Labor Department data released today by the Associated General Contractors of America. Association officials said even as firms in many starts are adding jobs amid growing residential and public sector construction investments, the number of states adding construction jobs for the year has declined compared to a year ago.
Construction employers added 19,000 jobs in November, reaching the highest employment level since November 2008, but a drop in public sector investments in construction projects held down employment among heavy and civil engineering firms, according to an analysis by the Associated General Contractors of America. Association officials noted that recent construction spending numbers show a decline in most categories of infrastructure investment.
Construction spending was mixed in October as a rebound in residential and public categories outweighed a downturn in most private nonresidential segments, according to an analysis by the Associated General Contractors of America. Association officials noted, however, that public investments in infrastructure remain down compared to last year while private-sector demand should remain robust amid continued economic growth.
Construction employment declined or was stagnant in one-third of metro areas between October 2015 and October 2016 amid diminishing public-sector investments in infrastructure and other civil works, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials said a new infrastructure proposal being crafted by the incoming Trump administration could, if structured properly, help add more construction jobs in many metro areas.
Only 23 states and the District of Columbia added construction jobs between September and October while construction employment increased in 35 states between October 2015 and October 2016, according to analysis of Labor Department data released today by AGC. Association officials said declining public-sector investments in infrastructure and other public projects were undermining construction employment growth in many parts of the country.
Construction spending remained in a yearlong holding pattern in September as declining public outlays offset strong growth in multifamily spending and several private nonresidential categories, according to an analysis by the Associated General Contractors of America. Association officials said declining investments in public infrastructure are undermining the sector’s recovery and urged Congress to act on pending water resources legislation and voters to support ballot measures designed to rebuild aging infrastructure.
Construction employers added 23,000 jobs in September as employment in the sector hit the highest level since the end of 2008 amid strong demand for construction services, according to an analysis by the Associated General Contractors of America. Association officials noted that average hourly earnings for construction workers increased by 2.8 percent compared to 12 months ago as labor shortages continue to prove challenging for many firms.
Construction spending held steady in August compared to July but is up nearly five percent for the first eight months of the year compared to same period in 2015, according to an analysis by the Associated General Contractors of America. Association officials said the new spending figures indicates that the industry's recovery may be at risk and said new investments in the nation's aging water systems and other infrastructure could help offset declining spending in certain types of private construction.