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According to a recently released analysis of U.S. Bureau of Labor Statistics Producer Price Index data by Associated Builders and Contractors (ABC), construction input prices have fallen 0.9% in November from October readings. Additionally, nonresidential construction input prices fell 0.8% in... View full entry
Construction filled more hard hats in October, as the total job openings dropped by 52,000 from a month earlier to 371,000, or 21,000 fewer vacancies than in October 2021, according to an analysis of Bureau of Labor Statistics data by Associated Builders and Contractors (ABC). — Construction Dive
The U.S. Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS) program defines a job opening as any unfilled position for which an employer is actively recruiting. While October's reading is promising, given a looming recession and labor shortages, 4.6% of all construction... View full entry
The Dodge Momentum Index (DMI) for November showed a steady increase of 3.8% to 207.2, marking the third consecutive month of growth following September and October’s revised totals of 182.2 and 199.6, respectively. The reported increases in planning activity were propelled by commercial... View full entry
High inflation, rising interest and plummeting stocks are taking a toll on Big Tech [...]
Despite the amount of blood on tech firms’ payroll ledgers, though, these massive cuts are not expected to affect the blistering pace of data center construction, according to industry sources.
— Construction Dive
The expected pullback from larger hyperscale data centers is nonetheless on pace to be absorbed by concurrent increases in the proliferation of smaller and more quickly deliverable colocation centers, according to recent market data. Related on Archinect: Dodge Momentum Index records... View full entry
According to a new Dodge Construction Network report, total construction starts rose 8% in October to a seasonally adjusted annual rate of $1.12 trillion. This is a rebound following two consecutive months of decline. Last month, nonresidential building starts gained 9% and nonbuilding starts... View full entry
The Dodge Construction Network has produced a forecast for the U.S. construction sector for 2023, in which it signals a slowdown across many typologies. Overall, the dollar value of construction starts will be $1.08 trillion, which, though unchanged from 2022, represents a 3% dip when adjusted for... View full entry
Construction staffing has nearly climbed out of the pandemic-induced hole. [...] construction reached 99% of pre COVID-19 numbers, according to an analysis of Bureau of Labor Statistics numbers.
Contractors added 60,000 new employees last month, Associated Builders and Contractors reported, boosting total employment in the industry to 7.6 million. That’s the highest staffing level since COVID-19 drove one million workers off site in April 2020.
— Construction Dive
“Evidence indicates that contractors have had a somewhat easier time filling available positions recently,” Associated Builders and Contractors Chief Economist Anirban said in a March statement. “There are also indications that supply chain issues have improved slightly, though the... View full entry
The Dodge Momentum Index (DMI) continued to steadily rise in October, with a 9.6% boost to 199.7 from the revised September reading of 182.2. This increase was driven by a 13% and a 2.9% rise in the commercial building and institutional building components, respectively. As detailed by Dodge... View full entry
Construction spending in New York City will reach an all-time high of $86 billion this year, up $38 billion from 2021, according to a new report from the New York Building Congress.
The report finds that despite numerous obstacles from the pandemic and economic uncertainty, construction spending and infrastructure investment in New York City remain positive.
— Construction Dive
The influx of capital, unfortunately, has not impacted the city’s most critical area of need as it was recently reported to have fallen short of its planned goals to construct 25,000 units of affordable housing by 36%. The New York Building Congress says the shortfall will only get worse as a... View full entry
It’s probably no surprise to those who make their career in the construction industry: Many construction workers are feeling a lot of pressure. In fact, 47% of construction worker respondents to a survey by StrongArm Technologies said they are currently stressed on the job. — Construction Dive
The report, titled the Industrial Athlete Workforce Report, by Brooklyn-based safety technology company StrongArm Technologies surveyed more than 600 workers in construction, manufacturing, and warehouse and transport industries about their jobs. Top stressors for workers included not being paid... View full entry
The latest data from the Dodge Construction Network (DCN) has revealed a 19% decline in the total number of construction starts for September, marking the second consecutive month in which declines were recorded following a 48% increase in July. The new seasonally adjusted annual rate is now $... View full entry
A leading economist in the AEC industry has warned that the United States' housing sector has entered a recession, with ramifications for homebuilding in the coming years. Robert Dietz, chief economist at the National Association of Home Builders (NAHB), made the comments at the National... View full entry
The latest Dodge Momentum Index (DMI) report indicates a sizable increase of 5.7% to a total of 183.2 for September, up from the revised 173.4 figure that was recorded in August. The Dodge Construction Network notes that this total falls within 5% of the DMI’s all-time high and was... View full entry
The latest Dodge Construction Network figures show a decline in construction starts by 9% after a July spike that was propelled mostly by the nonresidential and nonbuilding sectors. Total starts now stand at an adjusted annual rate of $1.25 trillion. The August dip was caused by a 36%... View full entry
The Biden Administration has unveiled the first set of recommendations under its Federal Buy Clean Initiative, an undertaking that aims to drive the development of American-made, low-carbon construction materials, while also supporting job growth. During a visit to the Cleveland-Cliffs Direct... View full entry
