The White House’s latest quarterly American Recovery and Reinvestment Act update, released on July 14, estimates the legislation created or preserved between 2.5 million and 3.6 million jobs as of June 30. Those figures are up from an estimated 2.2 million to 2.8 million ARRA jobs as of March 31. The report says stimulus-act transportation infrastructure jobs rose 17% in the quarter, to 102,000. Building construction jobs climbed 32%, to 80,200. Still, the construction industry’s June jobless rate was 20.1%, remaining the worst among industry sectors. The report also says ARRA outlays for infrastructure and other “public investment” totaled $86.3
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.