Economics | Associated General Contractors of America

Construction Employment in March Exceeds Pre-Pandemic Peak Level in 32 States as Record High Job Openings Hold Down Further Hiring

April 15, 2022

Construction employment exceeded pre-pandemic levels in 32 states in March, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said the government should support more career opportunities to enable people to work in the industry.

Input Prices For Nonresidential Construction Climb 21 Percent Between March 2021 And March 2022; Association Calls For Relief From Tariffs

April 13, 2022

Prices of materials and services used in new nonresidential construction jumped more than 21 percent from March 2021 to March 2022, according to an analysis by the Associated General Contractors of America of government data released today. The association urged the Biden administration to relieve major cost pressures by removing the remaining tariffs on aluminum, steel, and Canadian lumber.

Construction Employment Surpasses Pre-Pandemic Peak In Majority Of Metro Areas; Association Calls For Steps To Enlarge Worker Supply

April 6, 2022

Construction Adds 19,000 Jobs In March, While Project Spending Rises For 12th Straight Month In February; Officials Warn Of Growing Challenges

April 1, 2022

Construction Employment In February Tops Pre-Pandemic Total In 32 States But Soaring Costs, Supply Chain Woes Threaten Further Gains

March 25, 2022

Trade Agreement Reached with the UK on Steel and Aluminum

The U.S. and U.K. reached a Section 232 trade agreement which will lower tariffs on steel and aluminum imports from the UK. The agreement is based on a tariff-rate quota where the rate for steel (25%) and aluminum (10%) will be lowered to 0% until a quota has been reached, at which point the previous rate will set back in. This agreement will be effective June 1st, 2022.

Three-fourths Of Metro Areas Add Construction Jobs From January 2021 To 2022; Soaring Job Openings Indicate Lack Of Workers Kept Employment Totals Down

March 17, 2022

News Release: Materials Prices For Nonresidential Construction Soar 21 Percent From February 2021 To February 2022; Association Warns Of More Cost Increases

March 15, 2022

Prices of construction materials used in new nonresidential construction jumped more than 21 percent from February 2021 to February 2022, according to an analysis by the Associated General Contractors of America of government data released today. The association noted that more recent price announcements made after the February data was collected suggest contractors are experiencing even worse cost pressures this Spring.

Construction Employment Remains Below Pre-Pandemic Levels In 21 States And D.C. As Spiking Materials Prices Hinder Sector’s Recovery

March 14, 2022

FY 2022 Funding Package Fails to Address Employee Retention Tax Credit

March 10, 2022

Over the past two months, AGC of America, working with a coalition of other industry stakeholders, has worked with Congress to pass an extension of the Employee Retention Tax Credit (ERTC) through the fourth quarter of 2021. The ERTC was originally extended to run through the end of 2021 but was retroactively repealed for the fourth quarter after passage of the Infrastructure Investment and Jobs Act (IIJA), to expire after September 30. Because of the delay in passing IIJA some construction firms already claiming the credit in October 2021 face a potential tax penalty when they file their 2021 tax returns as a result.

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