Ken Simonson's blog

Forty states add jobs in May; job openings outpace hires; nonres, housing starts pick up

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.

Seasonally adjusted construction employment rose in 40 states and the District of Columbia from May 2014 to May 2015 and declined in 10 states, an AGC analysis of Bureau of Labor Statistics (BLS) data released on Friday showed. California again added the most construction jobs (46,600 jobs, 6.9%), followed by Florida (28,200, 7.2%), Texas (20,300, 3.1%), Washington (18,100, 11.6%) and North Carolina (15,600, 8.8%).    [node:read-more:link]

PPI rises in May; April job openings widen; Manpower survey shows steady hiring plans

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 increased 0.3%, not seasonally adjusted (0.5%, seasonally adjusted), in May but declined 1.1% over 12 months, the Bureau of Labor Statistics (BLS) reported today. AGC posted an explanation and tables 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. The PPI for final demand construction, not seasonally adjusted, rose 0.3% in May and 2.0% over 12 months. The overall PPI for new nonresidential building construction—a measure of the price that contractors say they would charge to build a fixed set of five categories of buildings—climbed 1.8% since May 2014. The 12-month increases ranged from 0.9% for healthcare construction to 1.4% for warehouses, 1.8% for schools and industrial buildings, and 2.2% for offices.    [node:read-more:link]

May construction employment, April spending hit 6-year highs; most metros add jobs

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.

Nonfarm payroll employment increased by 280,000 in May, seasonally adjusted, and by 3,058,000 (2.2%) over 12 months, the Bureau of Labor Statistics (BLS) reported on Friday. Construction employment rose by 17,000 and 273,000 (4.5%), respectively, to 6,387,000, the highest level since February 2009. Residential construction employment (residential building and specialty trade contractors) climbed by 8,500 for the month and 149,000 (6.5%) over 12 months. Nonresidential employment (building, specialty trades, and heavy and civil engineering construction) increased by 8,600 and 124,300 (3.3%), respectively. Average hourly earnings of all employees in construction rose to $27.34, a gain of 2.7% over the past year, up from 2.3% in the previous 12 months and 1.3% from May 2012 to May 2013.    [node:read-more:link]

Construction jobs increase in 40 states in April; materials, labor costs dip, IHS finds

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.

Seasonally adjusted construction employment rose in 40 states and the District of Columbia from April 2014 to April 2015, declined in seven and remained level in Indiana, Oregon and Vermont, an AGC analysis of Bureau of Labor Statistics (BLS) data released on Wednesday showed. California again added the most construction jobs (42,600 jobs, 6.4%), followed by Florida (32,200, 8.2%), Texas (25,300, 3.9%), Washington (18,700, 12.0%) and Michigan (14,800, 10.6%). Idaho again added the highest percentage of new construction jobs (12.4%, 4,400), followed by Washington and Michigan. The largest and steepest percentage losses again occurred in West Virginia (-4,400, -13.1%) and Mississippi (-3,200, -6.3%). U.S. construction employment rose 4.6% over the period, BLS reported on May 8. Despite the strong, widespread gains, only five states have topped pre-recession highs for construction employment:   [node:read-more:link]

Dodge, Census report rebound in April starts, but ABI slips; hotel outlook stays rosy

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 value of new construction starts increased 10% from March to April at a seasonally adjusted annual rate, Dodge Data & Analytics (formerly McGraw Hill Construction) reported on Thursday, based on data it collected. "The nonresidential building sector came in particularly strong [up 58% from March], lifted by the inclusion of two massive projects as April starts—an $8.1 billion petrochemical plant in Louisiana and a $1.2 billion office/retail high-rise in New York [City]. Meanwhile, residential building slipped [-3%] in April, and nonbuilding construction lost momentum [-17%] as the result of a pullback by public works.    [node:read-more:link]

PPI falls overall, edges up for construction; automakers announce new plants

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 decreased 0.3%, not seasonally adjusted (-0.4%, seasonally adjusted), in April and 1.3% over 12 months, the Bureau of Labor Statistics (BLS) reported on Thursday. AGC posted an explanation and tables 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.    [node:read-more:link]

Construction hiring rebounds in April; starts slip, CMD says; planning rises, Dodge says

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.

Nonfarm payroll employment increased by 223,000 in April, seasonally adjusted, and by 2,982,000 (2.2%) over 12 months, the Bureau of Labor Statistics (BLS) reported on Friday. Construction employment posted its strongest monthly increase since January 2014, rising by 45,000, following a drop of 9,000 in March. Since April 2014 construction employment increased by 280,000 (4.6%) to 6,383,000, the highest level since March 2009. Nevertheless, the April total was 1,343,000 (17%) below the record set nine years before.    [node:read-more:link]

Construction spending slips in March; jobs grow in 70% of metros; wages accelerate

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.

Construction spending in March totaled $967 billion at a seasonally adjusted annual rate, down 0.6% from the upwardly revised rate in February, but up 2.0% from March 2014, the Census Bureau reported on Wednesday. Because unseasonably mild or severe weather can distort monthly comparisons in winter, it is more revealing to compare year-to-date figures for January through March combined. On that basis, total spending increased 3.2% from the same months of 2014, private residential spending edged up 0.8%, private nonresidential spending increased 6.4% and public construction spending gained 1.7%. The largest private nonresidential segment was "power" construction, which in Census' classification includes conventional and renewable power plus oil and gas fields and pipelines, and which plunged 16% year-to-date.    [node:read-more:link]

Construction jobs increase in 41 states in March; Dodge starts, ABI show mixed trends

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Seasonally adjusted construction employment rose in 41 states, declined in nine and remained level in the District of Columbia from March 2014 to March 2015, an AGC analysis of Bureau of Labor Statistics (BLS) data released on Tuesday showed. California added more new construction jobs (46,300 jobs, 6.9%), followed by Texas (39,300, 6.2%) and Florida (37,400, 9.7%). Idaho added the highest percentage of new construction jobs (14.8%, 4,800), followed by North Dakota (12.1%, 4,000) and Washington (12.1%, 18,900).   [node:read-more:link]

Construction employment dips in March but wages move up; reports vary on cost trends

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.

Click here to register for a free 4/30 webcast "Will Construction Pick Up the Pace or the Pieces?" presented by AGC/AIA/CMD.

The producer price index (PPI) for final demand increased 0.4%, not seasonally adjusted (0.2%, seasonally adjusted), in March but dropped 0.8% over 12 months, the Bureau of Labor Statistics (BLS) reported on Tuesday. AGC posted an explanation and tables 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. The PPI for final demand construction, not seasonally adjusted, was flat in March and rose 1.9% over 12 months.    [node:read-more:link]