The construction industry added 34,000 jobs on net in August, according to an Associated Builders and Contractors (ABC) analysis of data released today by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment grew by 228,000 jobs, an increase of 2.8%. Nonresidential construction employment increased by 28,300 positions on net, with growth in all three subcategories. Nonresidential…
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Construction Spending Down in June; Up for Year
According to the U.S. Census Bureau, construction spending during June 2024 was estimated at a seasonally adjusted annual rate of $2,148.4 billion, 0.3% (±1.0%) below the revised May estimate of $2,154.8 billion. The June figure is 6.2% (±1.6%) above the June 2023 estimate of $2,023.0 billion. During the first six months of this year, construction spending amounted to $1,034.8 billion,…
Read MoreWater Resources Development Act of 2024 Passes House
On July 22, the House of Representatives approved by a vote of 359 to 13 the Water Resources Development Act of 2024 (WRDA), legislation that authorizes the U.S. Army Corps of Engineers (Corps) Civil Works Program for projects to improve the nation’s ports and harbors, inland waterway navigation, flood and storm protection and other aspects of U.S. water resources infrastructure.…
Read MoreConstruction Spending Down in April; Highways Lower
According to the U.S. Census Bureau, construction spending during April 2024 was estimated at a seasonally adjusted annual rate of $2,099.0 billion, 0.1% (±1.0%) below the revised March estimate of $2,101.5 billion. The April figure is 10.0% (±1.5%) above the April 2023 estimate of $1,907.8 billion. During the first four months of this year, construction spending amounted to $635.5 billion,…
Read MoreConstruction Prices Rise in April
Construction input prices increased 0.5% in April compared to the previous month, according to an Associated Builders and Contractors (ABC) analysis of U.S. Bureau of Labor Statistics Producer Price Index data released today. Nonresidential construction input prices increased 0.6% for the month. Overall construction input prices are 2.3% higher than a year ago, while nonresidential construction input prices are 2.2%…
Read MoreConstruction Spending Dips in January; Up Year Over Year
Construction spending during January 2024 was estimated at a seasonally adjusted annual rate of $2,102.4 billion, 0.2% (±0.8%) below the revised December estimate of $2,105.8 billion, according to the U.S. Census Bureau. The January figure is 11.7% (±1.5%) above the January 2023 estimate of $1,882.2 billion. In January, the estimated seasonally adjusted annual rate of public construction spending was $479.0…
Read MoreConstruction Spending Rises in November
Construction spending during November 2023 was estimated at a seasonally adjusted annual rate of $2,050.1 billion, 0.4% (±1.0%) above the revised October estimate of $2,042.5 billion. The November figure is 11.3% (±1.5%) above the November 2022 estimate of $1,842.2 billion. During the first 11 months of 2023, construction spending amounted to $1,817.1 billion, 6.2% (±1.0%) above the $1,711.1 billion for…
Read More2024 Outlook/Forecast
Aggregates Industry Looks To Make Gains As Projects Move Forward. By Mark S. Kuhar and Josephine Patterson Since President Joe Biden signed the Infrastructure Investment and Jobs Act (IIJA) into law Nov. 15, 2021, states have committed federal funds to support more than 56,000 eligible transportation improvements in all 50 states during the last two years, spanning nearly every U.S.…
Read MoreConstruction Materials Prices Dip 0.3% in November; Aggregates Higher
Construction input prices decreased 0.3% in November compared to the previous month, according to an Associated Builders and Contractors (ABC) analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices decreased 0.3% for the month as well. Inputs to construction are still nearly 39% higher than at the start of the COVID-19 pandemic. Construction…
Read MoreConstruction Spending Up Slightly in October
According to the U.S. Census Bureau, construction spending during October 2023 was estimated at a seasonally adjusted annual rate of $2,027.1 billion, 0.6% (±1.0%) above the revised September estimate of $2,014.7 billion. The October figure is 10.7% (±1.6%) above the October 2022 estimate of $1,830.5 billion. During the first 10 months of this year, construction spending amounted to $1,646.0 billion,…
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