Construction Adds 24,000 Jobs in February
The construction industry added 24,000 jobs on net in February, 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 249,000 jobs, an increase of 3.2%. Nonresidential construction employment increased by 11,600 positions, with growth registered in…
CONEXPO-CONAGG 2023 Set for Biggest Show Ever
CONEXPO-CON/AGG, already recognized as the largest trade show in North America, has officially sold all available exhibit space, guaranteeing the 2023 edition of the show will be the biggest in history. “The addition of the new West Hall and Diamond Lot at the Las Vegas Convention Center gave us, and our exhibitors, a number of…
ABC: Construction Materials Prices Rise 1% in January; Up 5% From a Year Ago
Construction input prices rose 1.3% in January, 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 increased 1.1% for the month. Overall construction input prices are 4.9% higher than a year ago, which is the smallest annual increase since…
ABC’s Construction Backlog Indicator Down to Start 2023; Contractor Confidence Rises
Associated Builders and Contractors reports today that its Construction Backlog Indicator declined 0.2 months to 9.0 in January, according to an ABC member survey conducted Jan. 20 to Feb. 3. The reading is 1.0 month higher than in January 2022. View the historical Construction Backlog Indicator and Construction Confidence Index data series. Despite the decline in…
Construction Workforce Shortage Tops Half a Million in 2023, Says ABC
The construction industry will need to attract an estimated 546,000 additional workers on top of the normal pace of hiring in 2023 to meet the demand for labor, according to a proprietary model developed by Associated Builders and Contractors. “The construction industry must recruit hundreds of thousands of qualified, skilled construction professionals each year to…
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,…
