Construction spending totaled $1.230 trillion at a seasonally adjusted annual rate in May, nearly the same as in April (although that figure was revised up by $11 billion or 0.9%), the Census Bureau reported on Monday. Spending has varied little in the first five months of 2017, but the rate in all five months exceeded the previous high set in 2006 (without adjusting for inflation).
July 07, 2017
There were 203,000 construction industry job openings, not seasonally adjusted, at the end of April—the highest April level since 2007, the Bureau of Labor Statistics (BLS) reported on Tuesday in its monthly Job Openings and Labor Turnover Survey (JOLTS).
June 12, 2017
Nonfarm payroll employment in May rose by 138,000, seasonally adjusted, from April and by 2,226,000 (1.6%) year-over-year (y/y), the Bureau of Labor Statistics (BLS) reported Friday. The unemployment rate dipped to 4.3% from 4.4% in April.
June 05, 2017
Data-tracking consultancy Lodging Econometrics reported on May 10 that the first-quarter 2017 hotel construction "pipeline currently stands at 5,032 projects..., up 13% by projects year-over-year....There are 1,511 projects...under construction, up by 155 projects [year-over-year] or 11%."
May 29, 2017
Seasonally adjusted construction employment rose in 39 states from April 2016 to April 2017, held steady in North Carolina and West Virginia, and fell in nine states and the District of Columbia, an AGC analysis of BLS data released on Friday showed.
May 24, 2017
Editor’s note: Construction Citizen is proud to partner with AGC America to bring you AGC Chief Economist Ken Simonson's Data DIGest. Check back each week to get Ken's expert analysis of what's happening in our industry. The producer price index (PPI) for final demand in April, not seasonally adjusted, increased 0.4% from March and 2.5% year-over-year (y/y) from April 2016, the Bureau of Labor Statistics (BLS) reported on Thursday. AGC posted tables and an explanation focusing on construction prices and costs. Final demand includes goods, services and five types of nonresidential buildings that BLS says make up 34% of total construction.
May 15, 2017
The Construction Labor Research Council issued Union Construction Labor Cost Trends and Outlook 2017, covering construction union local pay agreements ratified in 2016. First-year increases are projected to rise from 2.8% in both 2015 and 2016 to 2.9% in 2017 and 3.1% in 2018. Among 17 crafts, 2017 first-year increases range from 1.6% for boilermakers to 4.1% for painters. Among eight regions, increases range from 2.3% in New England to 3.4% in the South Central region.
May 01, 2017