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ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels increased in December. All three indices stand above the threshold of 50, indicating expectations of growth over the next six months.
The construction industry added 22,000 net jobs in December, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. Overall, the industry has recovered slightly more than one million (92.1%) of the jobs lost during earlier pandemic stages.
“If no news is good news, then this was a fine report,” said ABC Chief Economist Anirban Basu. On a seasonally adjusted annualized basis, nonresidential spending totaled $820.6 billion for the month.
The seventh annual Merit Shop Scorecard is a ranking based on state policies and programs that encourage workforce development, grow career and technical education, strengthen careers in construction and advocate for fair and open competition for taxpayer-funded construction projects.
“ABC is deeply disappointed that the 6th Circuit Court lifted the 5th Circuit’s stay of the U.S. Department of Labor’s Occupational Safety and Health Administration’s COVID-19 Vaccination and Testing Emergency Temporary Standard, which applies to employers with 100 or more employees," said Ben Brubeck, ABC vice president of regulatory, labor and state affairs.
The RIA will be expanding the number of AGA advocates working on behalf of restorers and is seeking candidates for a new AGA Pricing Advocate position.
Construction input prices are up 23.5% from a year ago, while nonresidential construction input prices rose 24.5% over that span. All three energy subcategories increased significantly.
“It’s getting better out there,” said ABC Chief Economist Anirban Basu. “While the outlook for construction remains imperfect, extraordinarily low interest rates have created enough appetite for deal-making to push backlog higher and persuade the average contractor that sales, employment and profit margins will climb over the next six months.”
Single Source Disaster Recovery Specialists, a Rhode Island-based property damage cleanup and reconstruction contractor, is celebrating its 50th anniversary. The company is commemorating the milestone with a gift to fund a four-year scholarship to the Carpenter Apprenticeship Program at Roger Williams University.
The construction industry added 31,000 jobs on net in November, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. Overall, the industry has recovered 998,000 (89.7%) of the jobs lost during earlier pandemic stages.
