Construction Cost Data Shows Effect of Trade Disputes as Aluminum and Steel Costs Increase, Rate of Cost Increases Hits Recent High
Construction costs accelerated again in June
Construction costs accelerated again in June
Construction employment increased by 13,000 jobs in June and by 282,000 jobs over the past year, reaching a 10-year high, according to an analysis of new government data by the Associated General Contractors of America. Association officials said many construction firms appear to be more willing to hire amid lower tax rates and a more favorable business environment, but caution that trade fights and labor shortages pose risks to future growth.
Construction spending reached a record level of $1.309 trillion in May as monthly increases in residential and public investment outweighed a decline in private nonresidential outlays, according to an analysis of new government data by the Associated General Contractors of America. Association officials warned, however, that continued labor shortages and rising materials costs threaten future growth in demand.
Construction employment increased in 263 (73 percent) out of 358 metro areas between May 2017 and May 2018
James V. Christianson, Vice President, Government Relations, for the Associated General Contractors of America (AGC), the nation’s leading construction trade association, today urged Congress “to reform the nation’s immigration system.”
Construction employment increased in 256 out of 358 metro areas between April 2017 and April 2018, declined in 63 and was unchanged in 39, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials said that the data showed a continuation of strong labor demand amid shortages of qualified workers.
Construction employment increased by 17,000 jobs in April and by 257,000 jobs over the past year while firms boosted pay to help recruit new workers, according to an analysis of new government data by the Associated General Contractors of America. Association officials noted that the increases in pay appear to be attracting more former construction workers back into the job market, but cautioned that labor conditions remain extremely tight.
Thirty-eight states and the District of Columbia added construction jobs between March 2017 and March 2018, while 29 states added construction jobs between February and March, according to an analysis by the Associated General Contractors of America of Labor Department data released today. Association officials said the job gains are coming amid strong private-sector demand and new public-sector investments in school and airport construction.
Construction costs climbed again in March, with increases for a wide range of building materials, including many that are subject to proposed tariffs that could drive prices still higher and cause scarcities, according to an analysis by the Associated General Contractors of America of Labor Department data released today. Association officials warned that tariffs on some items might lead to project delays and cancellations if supplies become unobtainable or too expensive for current budgets.