The number of unemployed workers with construction experience dropped to the lowest total for September since 2000, as hiring continued to slow despite robust demand for construction, according to a recent analysis by the Associated General Contractors of America. “Growth in the construction workforce has been slowing throughout 2015, just at the time that construction spending has accelerated to a multi-year high,” said Ken Simonson, the association’s chief economist. “Contractors would love to hire more workers but there aren't enough qualified craft workers or supervisors available.”Construction employment totaled 6,396,000 in September, the most since February 2009, but the total rose
August marked the seventh consecutive month that nonresidential construction spending expanded, according to an Oct. 1 release supplied by the U.S. Census Bureau. Nonresidential spending totaled $696.3 billion on a seasonally adjusted, annualized basis in August, a 0.3% increase from the previous month and a 12.3% increase from the same time last year. The Census Bureau downwardly revised July’s estimate from $696.1 billion to $694.1 billion. “Job growth is fueling both consumer spending and the absorption of space, all of this is good for construction spending,” said Associated Builders and Contractors Chief Economist Anirban Basu. “While construction spending has expanded
Breaking away from the roller coaster ride seen over the last few months, the September report of the Credit Managers’ Index from the National Association of Credit Management (NACM) continued to decline, resulting in the lowest combined index of the last year. The index of unfavorable factors was mostly to blame for the overall drop, with four of the six categories falling below the 50.0 contraction zone.“When the unfavorable factors are showing stress, it is an indication that companies are feeling the pinch and may be starting a long downward trend,” said NACM Economist Chris Kuehl.The index of favorable factors
The Conference Board Consumer Confidence Index, which had increased in August, improved moderately in September. The index now stands at 103.0 (1985 = 100), up from 101.3 in August. The Present Situation Index increased from 115.8 in August to 121.1 in September, while the September Expectations Index edged down to 91.0 from 91.6 in August. Consumers’ appraisal of current conditions was more positive in September. Those saying business conditions are “good” increased from 23.”% to 28.0%, while those claiming business conditions are “bad” declined modestly from 17.8% to 16.7%. Consumers were somewhat mixed about the job market. Those stating jobs
Colorado State University-Pueblo recently celebrated the opening of its new General Classroom Building, the first new classroom building on campus in decades.
As the Colorado chapter of the U.S. Green Building Council prepares for the 9th annual Green Schools Summit on November 6, the organization is recognizing the top green school districts in the state for their efforts in sustainability initiatives and green-building facilities.
Construction job totals fell in Arizona and New Mexico but continued to be the fastest growing sector in Nevada over the past year, according to data recently released by the three states.
Colorado State University has selected the design-build team of Hord Coplan Macht (formerly SLATERPAULL Architects) and Haselden Construction to complete design and construction for a new $81.9-million biology building on the CSU campus in Fort Collins.
The Architecture Billings Index (ABI) slipped in August after showing mostly healthy business conditions so far this year. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lead time between architecture billings and construction spending.The American Institute of Architects reported the August ABI score was 49.1, down from a mark of 54.7 in July. This score reflects a slight decrease in design services (any score above 50 indicates an increase in billings).The new projects inquiry index was 61.8, down from a reading of 63.7 the previous month.“Over the past several years, a period
New construction starts in August dropped 11% to a seasonally adjusted annual rate of $554.5 billion, according to Dodge Data & Analytics. Declines were reported for each of construction’s three main sectors—nonresidential building and housing pulled back from their improved July pace, while nonbuilding construction continued to recede from the heightened performance witnessed earlier in 2015. During the first eight months of 2015, total construction starts on an unadjusted basis were $446.1 billion, up 15% from the same period a year ago. If the volatile electric-utility and gas plant category is excluded, total construction starts during the first eight months
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