Just when it seemed there couldn’t be any more sources of uncertainty for the economy and business, along came Sandy. The storm has displaced a huge number of people and businesses, and has drastically reordered construction plans in New York and New Jersey.

Construction employers added 17,000 jobs in October while the industry's unemployment rate fell to 11.4 percent, according to an analysis of new federal data released today by the Associated General Contractors of America. Association officials noted that total construction employment levels have changed little during the past year while the declines in the industry’s unemployment rate are coming as more former workers leave the industry.

Construction spending in September climbed to a nearly three-year high at an annualized rate of $852 billion, as increased spending on houses, apartments and private nonresidential projects outweighed a continuing downturn in public construction, according to an analysis of new federal data released today by the Associated General Contractors of America. Association officials said they expect both the public and private trends to continue despite the disruption caused by Hurricane Sandy.

Construction employment declined in 160 out of 337 metropolitan areas between September 2011 and September 2012, increased in 125 and was stagnant in 52, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials said that construction employment in many areas continued to decline as construction activity is put on hold amid uncertainty about federal tax and investment programs and declining public sector demand.

Construction employment declined in 28 states from September 2011 to September 2012 even as 30 states added jobs during the past month, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials noted that the monthly gains, while welcome, were too small to offset the larger annual declines in many states.

Price spikes for several key construction materials in September threaten to push contractors out of business, according to an analysis of federal figures released today by the Associated General Contractors of America. The recent surge comes despite mild year-over-year changes in materials prices overall.

Construction spending declined between July and August to an annualized rate of $837 billion, but increased compared to August 2011, according to an analysis of new federal data released today by the Associated General Contractors of America. Association officials noted that growing demand for residential, lodging and education construction in particular offset drops in public construction spending.

Construction employment declined in 30 states from August 2011 to August 2012 and in 26 states in the past month, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials noted that construction employment declined in most states even as long term infrastructure programs and tax measures languish.

I’ve just returned from a week of meeting central bankers, business executives and think-tank economists in four European cities. I was part of a delegation of U.S. and Canadian members of the National Association for Business Economics, the professional organization for which I’ll serve as president for a year beginning in October.

Construction employers added 1,000 jobs in August while the industry’s unemployment rate fell to 11.3 percent, according to an analysis of new federal data released today by AGC.  The unemployment declines come as the construction industry continues to shrink, association officials noted, adding that over 214,000 workers have left the industry since August 2011.