Key Takeaways

• Nonresidential construction spending, which totaled $763.8 billion on a seasonally adjusted annual rate for October, increased 0.1% and is a 7.3% increase over the same time last year
• Water supply (+23 percent), lodging (+18.9 percent) and amusement and recreation (+16.2 percent) have generated the largest increases among nonresidential construction segments over the past 12 months.
• “While demand for construction services remained strong throughout the year, many contractors indicate that profit margins are under pressure. Given the ongoing dearth of available, skilled construction workers, that is likely to continue into 2019. However, materials price dynamics could be far different given a slowing global economy and expectations for a strong U.S. dollar next year.”

Press Release from Associated Builders and Contractors, Inc.

WASHINGTON, Dec. 4—Associated Builders and Contractors Chief Economist Anirban Basu forecasts another strong year for construction sector performance, yet warns about inflationary pressures, according to a 2019 economic outlook published today in Construction Executive magazine.

Job growth, high backlog and healthy infrastructure investment all spell good news for the industry. However, historically low unemployment has created a construction workforce shortage of an estimated 500,000 positions, which is leading to increased compensation costs.

“U.S. economic performance has been brilliant of late. Sure, there has been a considerable volume of negativity regarding the propriety of tariffs, shifting immigration policy, etc., but the headline statistics make it clear that domestic economic performance is solid,” said Basu. “Nowhere is this more evident than the U.S. labor market. As of July, there were a record-setting 6.94 million job openings in the United States, and construction unemployment reached a low of 3.6 percent in October.”

Key Takeaways

• Nonresidential construction spending, which totaled $767.1 billion on a seasonally adjusted annual rate for September, fell 0.3% but remains historically elevated and increased 8.9% on a year-ago basis
• August’s estimate was revised almost a full percent higher from $762.7 billion to $769.1 billion, the highest level in the history of the series.
• “Unlike previous instances of rapid construction growth, this one is led by a neatly balanced combination of private and public spending growth.”

Press Release from Associated Builders and Contractors, Inc.

WASHINGTON, Nov. 1— National nonresidential construction spending fell 0.3 percent in September but remains historically elevated, according to an Associated Builders and Contractors analysis of U.S. Census Bureau data released today. Total nonresidential spending stood at $767.1 billion on a seasonally adjusted, annualized rate in September, an increase of 8.9 percent on a year-ago basis.

According to data released last month by the US Bureau of Labor Statistics, the national construction industry added 23,000 net new jobs in September, following 23,000 in August, 18,000 in July, 13,000 in June and 29,000 in May.

Press Release from Associated Builders and Contractors, Inc (ABC)

Full release

Construction Industry Adds 23,000 Jobs in September, Says ABC

WASHINGTON, Oct. 5—The U.S. construction industry added 23,000 net new positions in September, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics.

During the last 12 months, the industry has added 315,000 net new jobs, an increase of 4.5 percent. Nonresidential construction employment expanded by 18,600 net jobs on a monthly basis, while the residential sector added just 4,400 net positions.

Article written by Alisa Zevin and appears on enr.com

U.S. construction starts will hold steady in 2019 after a modest 3% uptick in 2018, according to the 2019 Dodge Construction Outlook. Starts are expected to hit $808.3 billion, only 0.2% higher than 2018’s $806.8 billion.

“Over the past three years, the expansion for the U.S. construction industry has shown deceleration in its rate of growth, a pattern that typically takes place as an expansion matures,” says Robert A. Murray, chief economist at Dodge Data & Analytics.

For the non-residential sector side, the volume of commercial work is expected to drop 3%, with rising vacancy rates in the coming year slightly dampening construction, says Murray, who provided the 2019 market update in National Harbor, Md., on Oct. 25.

Retail construction continues to decline, largely due to the shift to online shopping, while hotel construction will slow following a 10% boost in 2018. Office and manufacturing buildings, however, will see small increases, at 1% and 2%, respectively. Institutional building, such as educational and healthcare structures, will rise 3%.

According to data released Friday by the US Bureau of Labor Statistics, the national construction industry added 23,000 net new jobs in August, following 18,000 in July, 13,000 in June and 29,000 in May.

Press Release from Associated Builders and Contractors, Inc (ABC)

Full release

Construction Employment Retains Momentum in August, Says ABC

WASHINGTON, Sept. 7—The U.S. construction industry added 23,000 net new jobs in August, an increase from the 18,000 net new jobs added in July, according to an Associated Builders and Contractors analysis of data supplied by the U.S. Bureau of Labor Statistics. The industry has added 297,000 net new jobs since August 2017, a 4.3 percent increase. Nonresidential construction employment increased by 9,600 net jobs in August, although the heavy and civil engineering category lost 200 net jobs for the month.

Original article written by Jim Morrison on Forbes.com

College isn’t for everyone and there are strong reasons to support students who decide to opt out of the college track and get jobs in the trades.

Jobs

A 2017 study from the Georgetown University Center on Education and the Workforce found between 1991-2015: “Good jobs in non-manufacturing blue-collar industries, such as construction and transportation, increased in 38 states. North Dakota, South Dakota, and Utah experienced the most robust job growth in non-manufacturing blue collar industries, as well as in the total number of blue-collar jobs.”

The growth has been uneven, though. The study says 12 states -particularly in the Northeast- lost those kinds of good jobs. California, Texas and Florida have had the largest gains.

Earnings

The study says there are 3,477,000 people have good-paying construction jobs in the U.S. and earn a median salary of $59,000.

According to data released Friday by the US Bureau of Labor Statistics, the national construction industry added 19,000 net new jobs in July, following 13,000 in June and 29,000 in May.

Press Release from Associated Builders and Contractors, Inc (ABC)

Full release

Construction Adds 19,000 Jobs as Unemployment Plummets in July, Says ABC

WASHINGTON, Aug. 3—The U.S. construction industry added 19,000 net new jobs in July after adding 13,000 net new jobs in June, according to an Associated Builders and Contractors analysis of data supplied by the U.S. Bureau of Labor Statistics. The industry has added 308,000 net new jobs since the first of the year, a robust increase of 4.4 percent.