Construction spending snapped a nine-month string of monthly gains with a sharp decline in January but still rose from year-ago levels, according to an analysis of new Census Bureau data by the Associated General Contractors of America. Association officials cautioned that “across-the-board” federal spending cuts known as sequestration, which took effect today, along with a possible shutdown of the federal government later this month, could hit construction harder than most sectors and dampen demand for needed projects.
Prices for construction materials moved higher in January, propelled by large jumps in items used in new housing and nonresidential building renovations, according to an analysis of new federal figures released today by the Associated General Contractors of America. Association officials said that contractors were paying more for materials even as the pending federal spending “sequestration” threatens to cancel an estimated $4 billion worth of construction activity this year.
Did you miss the appointment for your check-up? I’m not getting nosy about any medical or dental visits—I’m referring to the Economic Census. The Census Bureau sent notices to virtually every business in all industries between October and December 2012. Responses were due online or by mail on February 12, although businesses can still make use of a 30-day grace period.
The United States remains a field of dreams for many immigrants. If Congress and the White House can enact a new immigration law that allows millions of individuals who are already here to stay and permits easier legal entry for more who want to work here, what will the implications be for construction? First, the industry will gain access to workers with a range of skill levels just when demand for them is growing. Construction employment has grown by almost 300,000 in the two years since it bottomed out in January 2011. True, there were still more than 1.3 million former construction workers seeking work in January 2013, according to data released on February 1 by the Bureau of Labor Statistics, but that number had shrunk by 550,000 in the past two years to the lowest January total since 2008.
Revised government data issued today show the construction industry is contributing substantially to economic and employment growth, according to an analysis by the Associated General Contractors of America. Association officials noted that construction employment rose for the eighth consecutive month in January, while construction spending in December increased for the ninth month in a row. Both totals were the highest levels in more than three years.
Construction employment increased in 139 out of 337 metropolitan areas between December 2011 and December 2012, declined in 131 and was stagnant in 65, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials noted that growing private sector demand for new construction projects boosted employment in a slight plurality of metro areas.
Construction employment expanded in two-thirds of all states in December and in half the nation last year as the industry showed signs of emerging from a six-year slump, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials noted that contractors responding to a recent survey expect to add more workers in 2013.
Prices for construction materials inched down in December, closing out a year of relatively subdued changes in both materials costs and bid prices, according to an analysis of new federal figures released today by the Associated General Contractors of America. Association officials said the price decline was likely to be temporary, noting that the vast majority of contractors predict materials prices will rise in 2013.
Significantly more construction firms are planning to add new staff than plan to cut staff while demand for many types of private sector construction projects should increase this year according to survey results released today by the Associated General Contractors of America and Computer Guidance Corporation. The survey, conducted as part of Tentative Signs of a Recovery: The 2013 Construction Industry Hiring and Business Outlook, provides a generally optimistic outlook for the year even as firms worry about rising costs and declining public sector demand for construction.
Construction employment declined in 151 out of 337 metropolitan areas between November 2011 and November 2012, increased in 126 and was stagnant in 60, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials noted that metro areas in New York and New Jersey in particular experienced significant construction declines in the first full month after Hurricane Sandy.