Construction Employment Increases In 226 Of 358 Metro Areas Between October 2022 & 2023 As Labor Shortages Keep Firms From Hiring More
Construction employment increased in 226, or 63 percent, of 358 metro areas between October 2022 and October 2023, according to an analysis by the Associated General Contractors of America of new government employment data. Association officials noted that tight labor market conditions kept construction employment from increasing in even more metro areas. “Construction employment keeps growing in a…
Permanent Modular Building With Palomar Modular Buildings
Jumbo Shrimp. Army Intelligence. A Little Pregnant. Permanent Modular. Which one of those terms is NOT an oxymoron? That’s right, the term “Permanent Modular” is not the oxymoron some might believe it to be. Many people think “temporary” when they think “modular building”. That’s just not correct. Although modular buildings are often used to satisfy…
Preconstruction Revolution: Building the Foundation for Project Success
The dynamics within the North American preconstruction market are poised for a remarkable transformation, with Owners holding ever higher standards for the General Contractors they entrust to lead their projects. The days of relying solely on Excel spreadsheets are long gone; today, Owners are seeking a new level of sophistication in project management and…
Monthly Construction Input Prices Increase Slightly in September, Led by Higher Energy Prices
Construction input prices increased 0.2% in September 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 increased 0.2% for the month as well. Overall construction input prices are 0.3% higher than a year ago, while…
ABC’s September Construction Backlog Indicator Dips, Yet Contractors Remain Confident
Associated Builders and Contractors reported today that its Construction Backlog Indicator declined to 9.0 months in September, according to an ABC member survey conducted Sept. 20 to Oct. 4. The reading is equivalent to one year ago. View the full Construction Backlog Indicator and Construction Confidence Index data series. Though it declined last month, the South…
ABC: Monthly Construction Input Prices Increased 1.5% in August
Construction input prices rose 1.5% in August 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 also increased 1.5% for the month, but are up just 0.2% from a year ago. Rising energy prices drove…
ABC’s Construction Backlog Indicator Steady in August, Contractors Remain Confident
Associated Builders and Contractors reported today that its Construction Backlog Indicator declined to 9.2 months in August, down 0.1 month, according to an ABC member survey conducted from Aug. 21 to Sept. 6. The reading is 0.5 months above the August 2022 level. View the full Construction Backlog Indicator and Construction Confidence Index data series….
Marcum’s Q2 2023 Construction Index: Industry Battles Headwinds but Manufacturing-Related Construction Soar
The Marcum Commercial Construction Index for the second quarter of 2023 reports that the construction industry retained momentum through the first half of the year despite ongoing headwinds in the form of labor shortages, high borrowing costs, and tight credit conditions. While certain segments, like manufacturing-related construction, have continued to surge, spending in other segments has moderated…
ABC’s Construction Backlog Indicator Up in July, Contractors Remain Confident
Associated Builders and Contractors reported today that its Construction Backlog Indicator increased to 9.3 months in July, according to an ABC member survey conducted July 20 to Aug. 4. The reading is up by 0.6 months since July 2022. View the full Construction Backlog Indicator and Construction Confidence Index data series. The South remains the region…
Marcum Releases the 2023 National Construction Survey: Construction Industry Navigating Rising Interest Rates and Economic Challenges
The construction industry is grappling with the implications of rising interest rates, inflation, and changing economic dynamics, according to Marcum’s 2023 National Construction Survey. The annual survey is conducted by Marcum, one of the leading construction accounting firms in the country. The survey covers a range of topics, from top priorities to problems, strategies, possible solutions,…
