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From the category archives: Economics

Contractors Remain Upbeat, According to ABC’s Latest Construction Confidence Index

Commercial and industrial construction contractors entered 2018 with abundant confidence regarding sales and staffing levels for the next six months, according to the latest Construction Confidence Index released by ABC. All three components surveyed—sales, profit margins and staffing levels—remained well above 50 in the diffusion index, signaling ongoing progress. Read the rest of entry »

Construction Material Price Expansion Continues in March

Prices for inputs to construction materials expanded 0.8 percent in March and are 5.8 percent higher than at the same time one year ago, according to an ABC analysis of U.S. Bureau of Labor Statistics data. Prices for nonresidential construction inputs increased 0.9 percent on a monthly basis and are up 5.6 percent year over year. Read the rest of entry »

Construction Employment Falters in March; Nonresidential Segment Loses 8,200 Net Jobs

The U.S. construction industry lost 15,000 jobs on net in March, according to an ABC analysis of data from the U.S. Bureau of Labor Statistics. This represents a significant reversal from February, when the industry added a post-recession high of 65,000 net new jobs (upwardly revised from +61,000). Read the rest of entry »

February Construction Unemployment Rates Down Year-over-year in 34 States

The February 2018 not seasonally adjusted national construction unemployment rate was 7.8 percent, down 1 percent from February 2017 and the lowest national February rate on record, according to an analysis of U.S. Bureau of Labor Statistics data released by ABC. Estimated construction unemployment rates were down in 34 states on a year-over-year basis, unchanged in one state (Arizona) and up in 15 states. Read the rest of entry »

Nonresidential Construction Flat in February; Public Sector Spending Plummets

Nonresidential construction spending inched 0.1 percent higher in February, according to an ABC analysis of U.S. Census Bureau data. Nonresidential spending, which totaled $732.8 billion on a seasonally adjusted, annualized basis, has expanded 1.3 percent since February 2017. Read the rest of entry »

Commerce Issues Guidance for Tariff Exemptions

On March 19, 2018, the U.S. Department of Commerce began accepting exclusion requests from U.S. industry for the recently announced tariffs on steel and aluminum product imports. According to the notice published in the Federal Register, “individuals or organizations using steel or aluminum articles identified in presidential proclamations 9704 and 9705 and engaged in business activities in the United States may submit exclusion requests.”  Read the rest of entry »

January Construction Unemployment Rates Down Year-over-Year in All 50 States

Continued strength in construction resulted in a 7.3 percent January 2018 not seasonally adjusted national construction unemployment rate, down 2.1 percent from January 2017 and the lowest national January rate on record, according to an analysis of U.S. Bureau of Labor Statistics data released by ABC. Further, estimated construction unemployment rates were down in all 50 states on a year-over-year basis. Read the rest of entry »

Construction Materials Prices Continue to Expand Briskly in February

Overall construction input prices rose 0.7 percent in February, slightly lower than the rate set in January, according to an ABC analysis of Bureau of Labor Statistics data released. Compared to February 2017, prices are up 5.2 percent. Nonresidential construction materials prices are also up 0.4 percent on a monthly basis and 4.9 percent compared to the same time last year. Read the rest of entry »

Construction Employment Growth Surges in February

February was the best month for construction employment gains since March 2007, according to ABC's analysis of an employment report from the U.S. Bureau of Labor Statistics (BLS). The sector added 61,000 net new jobs on a monthly basis in February, an increase of 0.9 percent, and 254,000 net new jobs on a yearly basis, an increase of 3.7 percent. Read the rest of entry »

ABC Metro Washington Chapter Hosts Members of Congress at Training Facility

On March 13, a bipartisan group of ten U.S. Representatives visited the ABC Metro Washington Chapter’s CraftMasters Training Trust. House Education and Workforce Committee Chairwoman Virginia Foxx (R-N.C.) and Ranking Member Bobby Scott (D-Va.) led the delegation to the 10,000-square-foot facility in Beltsville, Md., and met with Chapter President Debbie Livingston, instructors and enrollees in the programs.  Read the rest of entry »
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