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National nonresidential construction spending saw a modest rise of 0.1% in July, according to a new analysis by the Associated Builders and Contractors (ABC) of U.S. Census Bureau data. When adjusted for seasonality on an annualized basis, nonresidential spending stood at $1.08 trillion, marking a... View full entry
The nationwide demand for labor is dulling, but construction still faces a shortage of workers. Construction counted 363,000 job openings at the end of July, according to the Bureau of Labor Statistics, a decrease of 23,000 jobs from June. — Construction Dive
As noted by the chief economist for Associated Builders and Contractors (ABC), Anirban Basu, job openings, across all industries, are at the lowest level since March 2021, and the rate at which workers are quitting their jobs has returned to the pre-pandemic norm. The demand for construction... View full entry
As the industry struggles to staff jobsites, contractors have ramped up the pursuit of the next generation of builders with vigor.
[...] experienced construction professionals approaching the end of their time in construction can pass down the vital building knowledge they have to Gen Z workers entering the industry from different academic backgrounds.
— Construction Dive
As reported by Construction Dive, a new industry report has revealed that construction employers have increased outreach for young talent by 46% over the past year. In addition, applications to architecture, drafting, and construction management roles rose by more than 40% on the platform... View full entry
The American Institute of Architects has just released its Architecture Billings Index for the month of July, highlighting further stability in the demand for design services for the third month in a row. The index score was recorded at 50.0, indicating a flat figure (anything above 50.0 is... View full entry
Construction starts rose a total of 17% for July to a seasonally-adjusted rate of $1.2 trillion, according to the just-released report from Dodge Construction Network. The latest data also indicated a 7% year-to-date drop in total construction starts when compared to the July 2022 totals... View full entry
The latest Associated Builders and Contractors (ABC) analysis of U.S. Bureau of Labor Statistics Producer Price Index data indicates that increasingly stable construction materials prices and recent supply chain improvements over the past few months may signal "positive... View full entry
Dodge Construction Network’s Dodge Momentum Index (DMI) fell by 0.9% in July to 193.4 from the revised June reading of 195.1. Last month, the commercial component remained relatively flat, declining only by 0.2%, and the institutional component fell 1.9%. Planning in all commercial sectors... View full entry
The report that we just released is showing spending for the year up 20%. So, we’ve obviously seen a much stronger first half of the year than was anticipated. And that’s reflected in the current projection for 2023 as a whole.
Since we’ve seen such a strong first half, the consensus is not for more acceleration in the second half. The consensus seems to be that strength is behind us and we’ll begin to moderate as we move into the second half of the year.
— Construction Dive
Baker predicts institutional construction will remain strong for the rest of this year, bolstered mainly by healthcare. Other sectors he expects to see a rebound include hospitality, K-12, and warehouses, albeit at a dampened pace for the third. He also mentions the new AIA Consensus Construction... View full entry
The Biden Administration has recently announced a new $90 million commitment in the form of competitive awards meant to help states and cities in their myriad attempts at mustering updated building codes into the country's patchwork response to climate change. The funds are being taken from the... View full entry
Total construction starts continue to fluctuate, with a 9% dip in June resulting in a seasonally adjusted annual rate of $1 trillion, according to the latest Dodge Construction Network report. Nonresidential starts led the decline, falling 14%. Nonbuilding starts fell 9%, and residential starts... View full entry
With record-high temperatures impacting millions around the world, a spotlight has been cast on the workplace conditions of construction workers, who currently aren’t protected by any strict standard regarding extreme heat. According to a heat tracker by The New York Times, approximately 27% of... View full entry
Spending on nonresidential building construction is expected to grow in late 2023 and beyond, according to the AIA’s latest Consensus Construction Forecast. The analysis projects that spending on nonresidential buildings will increase by almost 20% this year, a pace not seen since before the... View full entry
The latest billings data from the American Institute of Architects has found there to be a stable demand for design services across June 2023. The latest figures represent the first time since Fall 2022 that billings remained in positive growth for two consecutive months, indicating that... View full entry
A new Whole Life Carbon Accounting service from Skidmore, Owings & Merrill (SOM) was unveiled last month in an effort to help building owners and developers make accurate decisions about building performance at all stages of the design phase while pushing the industry further toward a much-needed... View full entry
The Dodge Momentum Index (DMI) continued its decline in June with a 2.5% decrease resulting in a reading of 197.3 from a revised May reading of 202.4. Over the course of last month, the commercial component rose 3.1%, while the institutional component dipped 10.5%. According to the Dodge... View full entry
