Eighty Percent of Construction Firms are Having Difficulty Finding Workers
Firms Are Boosting Pay and Benefits, Adding New Training Programs and Adopting New Technologies to Cope, but Labor Shortages Threaten Broader Economic Growth as Officials Outline Federal Measures to Help Eighty percent of construction firms report they are having a hard time filling hourly craft positions that represent the bulk of the construction workforce, according…
Construction Spending Edges Higher in July
Construction spending inched up less than 0.1 percent in July from June but slipped from year-ago levels, as a weak single-family homebuilding market and declines in some private nonresidential segments masked gains in public and multifamily construction, according to an analysis today by the Associated General Contractors of America of new federal spending data. Association…
Construction Contractors Lose Confidence in June, Says ABC
U.S. construction industry leaders are somewhat less confident about near-term prospects for nonresidential construction but remain reasonably upbeat, according to the June 2019 Construction Confidence Index released today by Associated Builders and Contractors. While contractors are less optimistic regarding sales, profits and staffing levels on a monthly basis, all three principal components measured by the…
July Construction Starts Increase 2 Percent
At a seasonally adjusted annual rate of $849.6 billion, new construction starts in July advanced 2% from the previous month, according to Dodge Data & Analytics. This marked the third consecutive monthly increase for total construction starts, following gains of 10% in May and 9% in June. By major sector, nonbuilding construction led the way…
What is a Fixed Price Contract in Construction?
Establishing a pricing method is an essential part of the pre-construction stage of a project. Generally, contractors choose to use either a fixed-price contract or a contract with dynamic pricing. A fixed-price contract in construction is a pricing method which sets a total established price upfront for all construction-related activities undertaken during the lifetime of the project….
The Ultimate Guide to Construction Project Management
Welcome to our Ultimate Guide to Construction Project Management! We’ve divided this guide into four distinct sections that will give you a complete overview into the construction project management process and the methodologies that some of the largest construction contractors and subcontractors in the world are using to manage their projects. In part one, we…
Construction Input Prices Rebound in July, Says ABC
Construction input prices expanded 0.8% in July but are down 0.6% year-over-year, according to an Associated Builders and Contractors analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data released today. Nonresidential construction input prices also increased 0.8% for the month but have declined 0.3% on a year-ago basis. Much of the year-over-year…
Nonresidential Construction Employment Roughly Flat in July, Says ABC
The construction industry added 4,000 net new jobs in July, 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 expanded by 202,000 net jobs, an increase of 2.8%. Nonresidential construction employment lost 2,800 jobs on net in July…
Construction Employment Rises by 4,000 in July
Average Hourly Earnings in Construction Top Private Sector Average by 9.9 Percent as Construction Firms Continue to Boost Pay to Attract Limited Pool of Available, Qualified Workers Construction employment increased by 4,000 jobs in July and by 202,000, or 2.8 percent, over the past 12 months, while the number of unemployed jobseekers with construction experience…
Nonresidential Construction Spending Slows in June, Remains Elevated, Says ABC
National nonresidential construction spending declined 1.8% in June, totaling $773.8 billion on a seasonally adjusted annualized basis—a 2.3% increase compared to the same time a year ago, according to an Associated Builders and Contractors analysis of U.S. Census Bureau data published today. Public nonresidential spending fell 3.7% in June, but is up 6.4% year over…
