Construction spending inched lower in October from September levels but increased from the October 2017 total, according to an analysis of new Census data by the Associated General Contractors of America. However, investment in public infrastructure posted declines from recent peaks, and association officials urged the White House and Congress to act promptly on comprehensive infrastructure legislation.
Construction employment grew in 281, or 78 percent, out of 358 metro areas between October 2017 and October 2018, declined in 43 and was unchanged in 34, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials cautioned that such widespread employment gains might not continue without policy changes to increase the supply of qualified workers.
Texas added the most construction jobs during the past year
“We congratulate all the winners from tonight’s election and look forward to having the opportunity to educate newly elected members about the construction industry’s many contributions to our broader economic prosperity.
Construction employment increased by 30,000 jobs in October and by 330,000 jobs over the past year, topping 7.3 million for the first time since April 2008, while the industry’s average pay jumped and unemployment decreased to a historic low, according to an analysis of new government data by the Associated General Contractors of America. Despite the steep gains in employment and pay, a recent survey by the association finds contractors continue to struggle to find qualified workers.
Construction spending hit a seasonally adjusted annual rate of $1.329 trillion and grew 5.5 percent for nine months of 2018 combined, with continued year-to-date gains for major public and private categories, according to an analysis of new government data by the Associated General Contractors of America. Association officials said that while demand for construction should remain strong for the next several months, the construction sector could be impacted by new trade tariffs, continues workforce shortages and higher interest rates.
Construction employment increased in 278 out of 358 metro areas between September 2017 and September 2018, declined in 42 and was unchanged in 38, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials noted that construction employment is growing in most parts of the country as firms expand to keep pace with growing demand for construction.
Forty-five states and the District of Columbia added construction jobs between September 2017 and September 2018...
The cost of many products used in construction climbed 7.4 percent over the past year due to double digit increases in commonly-used construction materials, according to an analysis by the Associated General Contractors of America of new Labor Department data. Association officials noted that the cost increases come as many construction firms are already grappling with shortages of skilled craftsmen essential for projects but have limited ability to increase prices for their services.
Construction employment increased by 23,000 jobs in September and by 315,000 jobs over the past year, reaching a 10-year high, while the industry’s unemployment rate decreased more than half-a-percentage point to 4.1 percent from a year earlier, according to an analysis of new government data by the Associated General Contractors of America. Even as firms increase headcount and increase pay, a survey by the association suggests that this expansion is threatened by a lack of skilled craft labor.