Dodge Momentum Index Dips in January
The Dodge Momentum Index (DMI), issued by Dodge Construction Network, fell 8.4% in January to 201.5 (2000=100) from the revised December reading of 220.0. In January, the commercial component of the DMI fell 10.0%, and the institutional component receded 4.7%. “The Dodge Momentum Index weakened in January, after 10 consecutive months of gains. While planning activity slowed,…
Construction Employment Increases In 268 Of 358 Metro Areas From December 2021 To 2022 As Demand Outpaces Labor Supply In Some Markets
Construction employment increased in 268 of 358 metro areas between December 2021 and December 2022, according to an analysis by the Associated General Contractors of America of new government employment data. Association officials said the industry faces some headwinds in 2023 that could undermine future growth in construction employment in many parts of the country. “Labor is tight,…
Construction Adds 25,000 Jobs in January, Says ABC
The construction industry added 25,000 jobs on net in January, 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 294,000 jobs, an increase of 3.9%. Nonresidential construction employment increased by 19,300 positions on net, with growth…
3 Construction Trends That Will Shape the Industry in 2023
Big swings in supply and demand have presented many challenges for the trades in recent years. Look for some of those construction trends to collide in 2023 to create even bigger waves in the construction industry. Materials costs, supply chains, labor supply, inflation, government spending — these have been major stories since the pandemic, and…
Construction Spending Slips 0.4 Percent In December, Yet Record-high December Job Openings Suggest Contractors Remain Bullish In 2023
Weather May Account for Conflicting Trends on Spending and Jobs as Construction Officials Warn of Labor Shortages and Regulatory Delays, Urge Public Officials to Ease Red Tape, Boost Construction Training Total construction spending decreased by 0.4 percent in December, yet industry job openings at the end of the month set a new high for December,…
Alston Construction Opens New Office in Greenville, South Carolina
With the Southeast’s rapidly expanding industrial warehouse and manufacturing market, Alston Construction announces the opening of its new Greenville, South Carolina office. The office will allow the company to expand its service offerings in the Carolina region and across the Southeast. The new office space deepens Alston Construction’s 36+ years of service to North and…
Total Construction Starts Increase in December
Total construction starts jumped 27% in December to a seasonally adjusted annual rate of $1.185 trillion, according to Dodge Construction Network. During the month, nonresidential building starts increased 51%, nonbuilding starts increased 30%, and residential starts rose less than one percent. Across 2022, total construction starts were 15% higher than in 2021. Nonresidential building starts rose…
A Record 88% of the US Construction Industry Workforce Does Not Belong to a Union
Associated Builders and Contractors released the following remarks today regarding the U.S. Department of Labor Bureau of Labor Statistics’ annual Union Members Summary. According to 2022 data, the percent of construction industry wage and salary workers belonging to unions dropped to a record low of 11.7%, a decline from 12.6% in 2021. ABC analysis finds that a historically…
BC Construction Group Forms ESOP to Become 100% Employee-owned
BC Construction Group, a national Design-Build construction firm announced the creation of its new Employee Stock Ownership Plan (ESOP), making the company now 100% employee owned. BC Construction Group was founded in 2009 with a clear, focused vision: “deliver the highest level of service to clients nationally.” They’ve achieved this through a proprietary, client-centered…
Inflation Easing: Monthly Construction Input Prices Drop 2.7% in December, Says ABC
Construction input prices fell 2.7% in December 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 declined 2.7% for the month. Overall construction input prices are 7.9% higher than a year ago, while nonresidential…
