The cost of construction materials took a breather in April, while contractors showed slightly greater ability to roll past price increases into their bids, according to an analysis of producer price index figures released today by AGC.
The construction industry lost 2,000 jobs in April, following similar declines of 3,000 in March and 1,000 in February, but still added 63,000 jobs over the past year as the industry unemployment rate shrank to 14.5 percent—the lowest April level in four years, according to an analysis of new federal employment data released today by the Associated General Contractors of America. Association officials said that lack of long-term federal highway and transit funding, along with other infrastructure budget cuts, threatens to limit construction job growth.
Construction employment increased in 155 out of 337 metropolitan areas between March 2011 and March 2012, decreased in 134 and stayed level in 48, according to a new analysis of federal employment data released today by AGC. Association officials said that fewer metro areas added construction jobs in March compared to February because of disruptions to typical hiring patterns caused by weather.
Construction spending inched up in March 2012 to an annualized rate of $808 billion, up 0.1 percent compared to the previous month and is now 6 percent above year ago levels, according to a new analysis of federal data released today by AGC. The overall gains mask divergent trends however, as public sector construction activity continues to decline while private sector demand for new construction continues to strengthen.
The momentum boosting the number of states adding construction jobs stalled in March as only 12 states and the District of Columbia added jobs since February, another 36 states lost construction jobs and employment levels remained flat in two other states, according to an analysis by AGC of Labor Department data. The year-over-year figures were little better, association officials added, noting that only 24 states and D.C. added construction jobs between March 2011 and 2012 while 24 lost jobs and two were unchanged.
The cost of construction materials jumped in March, even as the amount contractors charge to complete projects remained stagnant, according to an analysis of producer price index figures released today by AGC. Association officials noted that the spike in materials prices continues despite relatively weak overall demand for construction, and cautioned that current market conditions could force some firms out of business.
Construction employment increased in 171 out of 337 metropolitan areas between February 2011 and February 2012, decreased in 119 and stayed level in 47, according to a new analysis of federal employment data released by AGC.
The construction industry lost 7,000 jobs between February and March, following a similar decline of 6,000 the month before, but extended a pattern of modest year-over-year job increases, according to an analysis of new federal employment data released today by AGC. Association officials said that lack of long-term federal highway and transit funding threatens to hold down future job gains.
Construction spending in February topped year-ago totals by 5.8 percent as a double-digit increase in private construction offset a small drop in public sector spending, according to a new analysis of federal data released today by AGC. The gains occurred despite a 1.1 percent decrease in spending from January to February and a dip of 0.8 percent the month before, based on revised data.
Construction employment rose in 30 states and the District of Columbia between February 2011 and February 2012, while 18 states lost construction jobs and two held steady—the best net positive showing for state construction employment since January 2007, according to an analysis byAGC of Labor Department data. Twenty-nine states and D.C. added construction jobs between January and February, while 21 states had decreases for the month.