Your source for construction industry news in the Carolinas
The construction industry added 16,000 jobs on net in August, 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 risen by 311,000 jobs or 4.2%. Nonresidential construction employment rose by 4,300 positions on net, with positive growth in…
Today’s jobs report showed a better-than-expected increase in the number of jobs in January. Disruptions related to the Omicron variant do not seem to have derailed continued progress in the labor market. However, headwinds for employers persist, as labor shortages are still severe and economic activity remains healthy. Nonfarm payroll employment increased by 467,000 in…
With 2021’s first two months under our belt, a new administration in the White House, and better virus news at hand, what can we say about the economic situation, especially as it relates to the Carolinas and our region? More specifically, what do the soothsayers predict for national GDP growth, interest rates, and inflation? Will…
New development of commercial real estate and of the ongoing operations of existing commercial real estate buildings in the United States – office, industrial, warehouse and retail – supported 8 million American jobs, contributed $1.01 trillion to the U.S. GDP in 2020, and generated $338.1 billion in personal earnings – according to “Economic Impacts of…
The arrival of December often signals a time to take a hard look at the closing year’s activity, consider key events and issues, and offer thoughts on the prospects for the year ahead. But this year writing this sentence is a lot easier than following through. Indeed, the year now ending, beset as it was…
The Conference Board Leading Economic Index® (LEI) for the U.S. increased 1.4 percent in July to 104.4 (2016 = 100), following a 3.0 percent increase in June and a 3.1 percent increase in May. “The US LEI increased for the third consecutive month in July, albeit at a slower pace than the sharp increases in the previous two…
Despite substantial revisions to the components constituting real GDP, headline growth expectations on a quarterly and full-year basis were only slightly changed compared to last month, according to the latest commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. The ESR Group now expects second quarter 2020 real GDP to fall 37.0 percent annualized, compared…
WASHINGTON, June 9—Associated Builders and Contractors reported today that its Construction Backlog Indicator rose to 7.9 months in May, an increase of less than 0.1 months from April’s reading. Furthermore, based on an ABC member survey conducted May 20-June 3, results indicate that confidence among U.S. construction industry leaders continued to rebound from the historically low…
WASHINGTON, March 17, 2020 — Associated Builders and Contractors reported today that its Construction Backlog rose to 8.9 months in January 2020, a 5.9% increase from December’s reading. Backlog for firms with less than $30 million in revenues expanded by nearly 20% after declining sharply in December. “This represents yet another reminder that nonresidential construction and…
