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Section: Business > Industry Trends
Business
Q4 Economic Outlook Lowers 2016 Equipment and Software Investment Growth Forecast to -0.5%
Construction machinery investment growth may rebound modestly over the next three to six months
October 12, 2016
Business
Construction Industry Adds 23,000 Jobs in September, Led by Residential Sector
Residential sector added 15,700 new positions while nonresidential added just 2,700 jobs for the month
October 7, 2016
Despite the broader industry gains, the nonresidential sector added just 2,700 net new jobs for the month, while the residential sector added 15,700 new positions. The heavy and civil engineering subsector added 4,300 net new jobs after losing 23,200 positions over the previous five-month period.
Business
US Construction Spending Stalled Again in August
Total construction spending pulled back slightly for a second consecutive month in August on broad-based softening, but year-to-date gains remain near 5%
October 4, 2016
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Training & Education
NCCER Offers New Construction Workforce Development Professional, Mentoring for Craft Professionals Training Programs
New training programs designed to address construction industry's labor shortage and develop mentors in the industry
September 20, 2016
Business Services
Forecast: US Put-in-place Construction Spending Forecast Revised Down for 2016, 2017
ConstructConnect's forecasts total construction spending will be 3% lower than originally forecast for 2016 and nearly 2% lower than forecast for 2017
August 30, 2016
Table 1 is derived from the Census Bureau’s ‘actual’ construction spending figures through June of this year (i.e., through 2016’s first half), for the various type-of-structure categories set out in column 1.
Construction News Tracker
[VIDEO] Could Q2 Spending Slide Signal Turning Point for Construction?
Was second quarter construction spending weakness just a coincidental volatility or has construction reached a turning point that has eluded economists' outlooks; plus more industry news on the August 17, 2016 edition of Construction News Tracker
August 18, 2016
[VIDEO] Could Q2 Spending Slide Signal Turning Point for Construction?
Business Services
Minority-owned Residential Construction Firms on the Rise
Total number of U.S. residential construction firms has declined while the share of those owned by minorities has risen to 23%
August 11, 2016
The absolute number of minority-owned residential construction firms grew 44% between 2007 and 2012, going from roughly 109,000 firms to 157,000. In contrast, as Figure 3 shows, the number of firms owned by non-minorities declined 19% during this 5-year period, falling from 645,000 to 525,000.
Business
US Construction Spending’s Third Monthly Decline May Signal Turning Point
The value of construction put in place is known to be volatile but consensus forecasts of economists watching the industry has missed the direction of the spending change for three straight months.
August 2, 2016
The consensus forecast of the total nominal value of construction spending put in place in June expected an increase of 0.5%, but missed big again for the third month in a row, when the U.S. Commerce Department’s estimate showed the number slipping 0.6% to a seasonally adjusted annual rate of $1,133.5 billion.
Business Services
Nonresidential Fixed Investment Falls for Third Consecutive Quarter
'Construction activity has stalled a bit more than thought, largely due to slowing residential investment growth and low levels of public sector investment'
July 29, 2016
A small 1.2% expansion in real gross domestic product suggests that construction activity has stalled a bit more than thought, largely due to slowing residential investment growth and low levels of public sector investment, says Associated Builders and Contractors Chief Economist Anirban Basu.
Business Services
AIA: Healthy Outlook for Construction in 2016 and 2017
Continued strong demand for hotels, office space, and amusement and recreation spaces will ensure continued growth in the overall construction spending market over this time period
July 27, 2016
Overall building construction spending is expected to grow around 6% this year, and stay in that range for 2017. Commercial construction sectors are projected to be the strongest performers this year, with the institutional categories moving back a bit from their pace of last year. Next year, the commercial sectors are expected to see slower yet still healthy levels of growth, while most institutional sectors will see a somewhat accelerated pace of activity.
Business
Rising Profitability, Reduced Debt Support Positive Outlook for US Building Materials Industry
Solid and improving end-market fundamentals continue to drive volume and price growth for aggregates, ready-mixed concrete and cement
July 12, 2016
Residential construction continues to benefit from employment growth, pent-up demand from low levels of construction activity over the past few years and low mortgage rates.
Business
Q3 Economic Outlook Forecasts 0.9% Growth in Equipment and Software Investment in 2016
Construction equipment investment growth likely to remain sluggish
July 11, 2016
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Business
Nonresidential Construction Spending Falls to Lowest Level in 2016
Nonresidential construction's recovery has stalled out with spending essentially the same as it was a year ago
July 5, 2016
When one adjusts for inflation, nonresidential construction spending today is essentially unaltered from a year ago. The industry's recovery appears to have stalled. Not only have spending reports indicated a lack of positive momentum, but recent employment data also suggest that nonresidential construction activity has plateaued.
Business
Skilled Labor Shortage in Residential Construction Becoming More Widespread
Survey results show 56% of of builders across nine key trades report some or a serious shortage in skilled labor - up from 21% in 2012
June 28, 2016
The shortages are particularly severe for basic skills like carpentry, which are needed during the construction of any home.
Business
Residential Construction Wage Growth 19% Higher than 2010 Low Point
Average annual pay for residential building construction was $50,806 in 2015, 19% higher than in 2010, when the wages hit the lowest level after the Great Recession
June 27, 2016
The average annual pay for residential building construction employees increased by about 5% in 2014 and 2015 while the national average for all industries only rose 3% a year during the same period.
Business
Dodge Momentum Index Moves Higher in May on Commercial Construction Strength
Increase places the overall index 3.6% higher than its year-ago level, suggesting further growth in construction activity in 2016
June 7, 2016
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Home
A Tool to Combat the Construction Labor Shortage
FutureRoadBuilders.com is designed to attract young adults into our industry
June 1, 2016
Business
April Construction Hiring Helps Drive Down Florida Unemployment
Florida’s April job gain was the nation’s second largest, lead by hiring in healthcare, business services and residential and commercial construction
May 25, 2016
The largest Florida jobs gain in April was in the education & health services sector, which added 6,000 net new jobs, mostly in healthcare. Professional & business services and construction each added 4,400 jobs during the month. April construction employment in Florida was 7.1% higher than April 2015, producing a net gain of 30,100 new jobs.
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