Labor costs have always been a big chunk of a construction company’s budget. There are direct costs, like paying your workers their hourly wage, and indirect costs like insurance and workers’ compensation. And since projects can’t be completed without labor, it’s a necessary expense but one that’s steadily rising.

Two new bills signed into law in August will positively impact construction industry projects.

The national construction industry added 16,000 jobs on net in August, according to data released Friday by the US Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 311,000 jobs, an increase of 4.2%.

National nonresidential construction spending increased .8% in July 2022. On a seasonally adjusted annualized basis, nonresidential spending totaled $847.6 billion for the month.

When you see the phrase “tech adoption,” what comes to mind? For some, it may spark a sense of excitement, improvement, exploration and growth. For others it can conjure up fear of the unknown or of change in general. The fact that it’s grown to become such an imperative in the construction industry may further compound things.

The Dodge Momentum Index (DMI) increased 2.9% in July to 178.7 from the revised June figure of 173.6.

The national construction industry added 32,000 jobs on net in July, according to data released today by the US Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 311,000 jobs, an increase of 4.2%.

National nonresidential construction spending down .5% in June 2022. On a seasonally adjusted annualized basis, nonresidential spending totaled $829.4 billion for the month.

More companies are implementing new forms of construction technology to make their jobsites safer, run more efficiently and reduce costs. But, along with the positive effects of this new technology, there arises the possibility for cybersecurity issues.

Caring for our customers, each other, and our communities is a core value for CDP. Each year, we allocate funding for charitable donations and 25% of the total is directed to organizations selected by our team members.