Construction News Tracker is presented by Caterpillar and produced by ForConstructionPros.com.
The U.S. Congress just wrapped up a mother short session, and adjourned until the presidential election is finalized, but this time left a slew of important decisions to content with. The regulatory relief for small business rule, which passed the House, will delay implementation of the contentious Labor Department overtime rule opposed by many construction related associations, pushing back until next spring its adoption amid a potential presidential veto.
More vexing, however, is the continuing funding resolution which will halt federal FAST Act funding until December 9th and possibly longer. The dollars state and municipalities were to have received are basically now in escrow until Congress decides how and when it wants agencies funded, and the potential for delay could be well into 2017 — a congressional first. All this despite approval of the FAST Act last year but not necessarily the money.
A less than stellar national jobs report indicates the country managed only to score 156,000 new positions in September, raising the unemployment rate from 4.9% to 5%. The construction sector managed to hire a measly 23,000 new employees during the month. Economists have expected a much broader hiring rate and are now wondering what it means.
As the construction slowdown continues, AGC believes it is only temporary as the economy will show more growth in coming months. Chief Economist Ken Simonson reports that although construction demand is robust, it will not be as strong as last spring, and much depends on what politicians will do regarding our aging infrastructure. Right now, the strongest construction growth sector is nonresidential, up 4.2% from 2015, and residential, up 1.4% during the same period. The big hit comes in public construction, off 8.8% in the last 12 months.
Road construction contractors in New Jersey are elated after a three and a half month lock out over a state decision to find money to pay for projects. Politicians finally found a resolution. Republican Governor Chris Christie and democratic state leaders agreed on a 23 cent per gallon gas tax coupled with cuts in other New Jersey state taxes to fund an eight year, $16 billion highway trust fund. The workers say they are eager to once again be earning a pay check.
Academics, government and our industry have joined forces to produce the first 3D excavator ever assembled fro CONEXPO 2017 in Las Vegas next March. Project AME is being spearheaded by the Association of Equipment Manufacturers in conjunction with the National Fluid Power Association and the government's Oak Ridge National Laboratories in Tennessee, which happens to have the most highly rated 3D printing machines to create and assemble the cab, the boom and the heat exchanger.
World's First Operational 3D Printed Excavator Gets a Cab
But the highlight of AME is the student-led team from the University of Illinois at Urbana-Champaign that won out a design competition that included academic engineering students at Georgia Tech and the University of Minnesota.
A true learning experience all the way around, and one you'll be able to view during CONEXPO next March 7 through 11 at the Las Vegas Convention Center.
The Farley Post Office complex near Penn Station in New York City is about to undergo a $1.6 billion transformation. Vornado Realty and Skanska AB have been selected by New York state officials to turn the landmark structure into a railway station with mixed use facilities. Work is expected to begin soon and when finished will contain passenger rail accommodations for both Amtrak and the Long Island Railroad. The Farley Building contains more square footage than Grand Central Station.
As most contractors know, construction thieves look for the quickest way in and out of a jobsite without being noticed. And, as security analysts know, construction loses amount to nearly $1 billion annually, and that's mostly for heavy equipment. The National Insurance Crime Bureau is pressing the industry to tighten its belt and strengthen perimeters, use more watchmen and guard dogs, and adopt stringent access rules.
Taking up tech: Job site security for the 21st century
Use of more high-tech security systems such as cameras and GPS tracking is also being encouraged as well as RFID badging systems that track where workers are and when. So called geo fencing plans are also being adopted as construction sites are generally being found to contain more and more expensive equipment and tools that can vanish in an instant. Being safe also means being prepared at your jobsite.
This is Construction News Tracker looking over the industry that makes the world a better place. Presented by Caterpillar and produced by ForConstructionPros.com.
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