After a year in which the economy and starts slowed considerably, the coming year should provide a transition to stronger growth for construction, according to the Dodge Construction Network’s (DCN) Outlook 2024 economic report. In 2024, total construction starts are expected to gain 7% to $1.2 trillion after growth slowed to just 1% in 2023 (and was down 2% after…
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The Year in Review
As the Grateful Dead sang, “What a long, strange trip it’s been.” 2023 has been a year of surprises, excitement, progress and unexpected developments. Going into the first part of the year, I would have bet my last two-dollar bill we would see increased aggregates production in 2023. While the final numbers are not in, it is pretty apparent final…
Read MoreSingle-Family Starts Show Gradual Improvement in April
A lack of existing inventory and stabilizing mortgage rates helped push single-family production up to the highest rate thus far in 2023 even as builders continue to deal with high construction costs, persistent labor shortages and tightening credit conditions for construction loans. Overall housing starts in April increased 2.2% to a seasonally adjusted annual rate of 1.40 million units, according…
Read MoreCarhartt, Metallica Team Up to Address U.S. Labor Shortage
Work gear manufacturer Carhartt and the heavy metal band Metallica are looking to turn the page on the U.S. labor shortage that’s impacting industries such as aggregates and construction by campaigning to recruit people for skilled trade work.
Read MoreConstruction Employment at Highest Level in Nine Years
Construction employment increased by 5,000 jobs in April to the highest level in more than nine years amid strong demand for new construction services, according to an analysis of new government data by the Associated General Contractors of America. Association officials cautioned, however, that a shortage of available qualified workers likely limited the number of new jobs added last month.
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