The Contractor Compensation Quarterly (CCQ) is especially designed for the busy construction executive that needs to keep abreast of competitive compensation and benefit levels within the industry. Based on our survey data, contractors are projecting 2024 construction staff wages to increase an average of 4.38% (excludes 0% projections), reported by 350 companies in this 42nd edition…
Business
Prices of Construction Materials Fall 0.3% in June
Construction input prices fell 0.3% in June compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data released today. Nonresidential construction input prices declined 0.4% for the month. Overall construction input prices are 1.1% higher than a year ago, while nonresidential construction…
Dodge Momentum Index Gained 10% in June
The Dodge Momentum Index (DMI), issued by Dodge Construction Network, increased by 10.4% in June to 198.6 (2000=100) from the revised May reading of 179.9. Over the month, commercial planning increased 14.5% and institutional planning ticked up 0.2%. “Data centers continued to dominate planning projects in June – fueling another strong month for commercial planning,” stated…
ABC’s Construction Backlog Indicator Inched Higher in June, Contractors Remain Confident
Associated Builders and Contractors reported today that its Construction Backlog Indicator increased to 8.4 months in June, according to an ABC member survey conducted June 20 to July 3. The reading is down 0.5 months from June 2023. View the full Construction Backlog Indicator and Construction Confidence Index data series. The entire decline in backlog observed…
Construction Adds 27,000 Jobs in June; Industry Unemployment Rate Plunges to Second Lowest Ever Recorded
The construction industry added 27,000 jobs on net in June, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has increased by 235,000 jobs, an increase of 2.9%. Nonresidential construction employment increased by 21,200 positions on net, with growth…
Markets
A M King Transforms Coastal GA Spec Building into Advanced Food Processing Facility for Nonprofit MANA Nutrition
Carolinas-based integrated Design-Build firm A M King has begun transforming a 320,000-square-foot, spec warehouse facility in Pooler, GA, near Savannah, into a state-of-the-art food processing for Charlotte-area nonprofit MANA Nutrition, Inc. When the Pooler buildout is complete, MANA will use the facility to produce its signature Ready-to-Use Therapeutic Food (RUTF) and Ready-to-Use Supplemental Food (RUSF)….
Construction Begins in Wilmington on Metronet’s $30M Fiber-Optic Network
Construction in Wilmington has begun on a $30M fiber-optic network that will bring multi-gigabit internet service to the city’s homes and businesses, Metronet announced today. Named the fastest major ISP in the country for 2024 by PCMag, Metronet will offer customers ultrafast speeds of up to five gigabits per second for residents and up to ten…
Conti Federal Completes Restoration of Fort Liberty Barracks
Conti Federal Services, a leading U.S. government construction and engineering firm specializing in military construction, critical infrastructure and rapid response and recovery, has successfully completed an ambitious barracks renovation project at Fort Liberty in North Carolina, completing the project in an impressive 11 months. “The security of a nation is only as strong as the…
Flexibility Key to Mitigate Supply Chain Delays in Data Center Construction
Supply chain delays continue to affect construction across the globe, especially for data center facilities. DPR Construction recommends collaborative procurement planning and built-in flexibility to help project teams maintain schedules and get new data centers online as planned. According to McKinsey & Company, the U.S. data center demand is expected to grow at an average…