National nonresidential construction spending down .6% in May 2022. On a seasonally adjusted annualized basis, nonresidential spending totaled $832.5 billion for the month.
A new report from Dodge Data & Analytics shows some positive trends in terms of the near-term construction industry forecast. According to data released last month, total construction starts rose 3% in April to a seasonally adjusted annual rate of $945.8 billion.
Since the tariffs on steel and the first wave of the COVID-19 pandemic, the construction industry has been reeling from the impact of material shortages and price increases, labor shortages, breakdowns in the supply chain and the inflationary effect of these issues. Unfortunately, the war in Ukraine has only exacerbated the situation.
National nonresidential construction spending down .4% in April 2022. On a seasonally adjusted annualized basis, nonresidential spending totaled $844.4 billion for the month.
The national construction industry added 36,000 jobs on net in May, according to data released Friday by the US Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 283,000 jobs, an increase of 3.8%.
When it comes to the physical assets at your jobsites — supplies, tools, heavy equipment, building materials and the structure itself — there are certain steps you take to protect them against damage and theft. But one of your most important assets that isn’t so tangible requires its own safeguards; your data.
Staying on top of construction payroll with today’s complex projects—from dozens to thousands of workers to manage—can be a daunting challenge for even the most seasoned accounting and payroll professionals.
The national construction industry added 2,000 jobs on net in April, according to data released today by the US Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 235,000 jobs, an increase of 3.2%.
National nonresidential construction spending down 1% in March 2022. On a seasonally adjusted annualized basis, nonresidential spending totaled $839.2 billion for the month.
Finally, some project information and guidelines related to the Infrastructure Investment and Jobs Act—now commonly referred to as the Bipartisan Infrastructure Law—have been released for state and local governments. Contractors across the country can begin to see how the $1.2 trillion in funding will be doled out to their local communities. The bill allocated funding to more than 100 different programs directed by more than a dozen federal bodies.
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