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Prices for inputs to construction fell 0.2 percent in July but are 9.5 percent higher than a year ago, according to an ABC analysis of U.S. Bureau of Labor Statistics data. Nonresidential construction input prices increased fell 0.3 percent in July but are up 9.6 percent year over year. Softwood lumber prices are up 19.5 percent from July 2017, while iron and steel prices are up 13.4 percent.
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Missouri voters overturned the state’s Right to Work law—on the ballot as Proposition A—during a special election yesterday. The law, which was passed by the Republication-controlled legislature and signed into law by then-Gov. Eric Greitens in February 2017, was scheduled to go into effect Aug. 28, 2017. However, labor groups quickly gathered 310,000 signatures to block the law and place it on the ballot for a public referendum vote Aug. 7, 2018.
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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 ABC 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.
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On Aug. 2, the Environmental Protection Agency and National Highway Traffic Safety Administration released a joint notice of proposed rulemaking, the “Safer Affordable Fuel-Efficient Vehicles Rule for Model Years 2021-2026 Passenger Cars and Light Trucks," which would amend certain existing Corporate Average Fuel Economy and tailpipe carbon dioxide emissions standards for passenger cars and light trucks and establish new standards. The standards would cover vehicle model years 2021 through 2026.
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The Occupational Safety and Health Administration recently revised its Law and Regulations webpage to offer users easier navigation through OSHA standards and rulemaking. The updated webpage features more user-friendly settings, including information buttons that explain regulatory language that may be unfamiliar to some users, a list of key resources and the latest updates on active rulemaking.
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ABC members have set the standard for safety, performance and integrity in the construction industry since 1950. After topping 21,000 members in 2017, ABC has a goal of adding 1,000 new like-minded companies committed to excellence and delivering high-value, to join in 2018. Now it’s easy to recommend a colleague at onekmoresway.org, and chapter staff will follow up to close the deal.
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Nonresidential construction spending contracted 1.6 percent on a monthly basis in June, according to an ABC analysis of U.S. Census Bureau data. Spending totaled $742.4 billion on a seasonally adjusted annual rate for the month, a 4.2 percent increase from the same time one year ago. Private nonresidential spending fell 0.3 percent in June, while public nonresidential spending contracted by 3.5 percent.
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On behalf of ABC, Mike Holland, chief operating officer, MAREK Companies, testified before the U.S. Senate Committee on Health, Education, Labor and Pensions about the need to modernize and expand apprenticeship opportunities in the United States.
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Estimated June construction unemployment rates fell in 15 states on a year-over-year basis, rose in 33 states and were unchanged in two states (Arizona and New Hampshire), according to an analysis of U.S. Bureau of Labor Statistics data released by ABC.
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The U.S. economy expanded at an annualized 4.1 percent rate during the second quarter of 2018—the fastest rate of quarterly growth since the second quarter of 2014, according to an ABC analysis of U.S. Bureau of Economic Analysis data.
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