The national construction unemployment rate (seasonally unadjusted) went from 8.6% in November to 11.4% in December, according to the U.S. Bureau of Labor statistics. The rate was still a year-over-year increase from 2012 when the construction unemployment rate was 13.5%. “Construction employment edged down in December (-16,000). However, in 2013, the industry added an average of 10,000 jobs per month. Employment in nonresidential specialty trade contractors declined by 13,000 in December, possibly reflecting unusually cold weather in parts of the country,” according to a news release Jan. 10 from the Bureau of Labor Statistics.In the U.S. Southwest, the recent trend
On Jan. 14, Arizona State University made official that will invest $210 million to renovate and rebuild its aging Sun Devil Stadium in Tempe. Courtesy Arizona State University Rendering of Sun Devil Stadium renovations. Courtesy Arizona State University Rendering of Arizona State University renovations. The proposed plan will completely renovate the facility while preserving Tillman Tunnel and retaining the stadium in its iconic setting between the Tempe/Hayden buttes. The football team will continue to use the stadium throughout the period of renovation which is anticipated to be complete in 2017.The demolition project has been awarded to Hunt Construction, according to
At a seasonally adjusted annual rate of $524.8 billion, new construction starts in November fell 11% from the previous month, according to McGraw Hill Construction, a division of McGraw Hill Financial. The downturn followed heightened activity in October, which showed the strongest pace for construction starts so far during 2013. Both nonresidential building and nonbuilding construction pulled back from their elevated October amounts. At the same time, residential building showed modest growth in November, continuing the steady upward trend that’s been present during most of 2013.For the first 11 months of 2013, total construction starts on an unadjusted basis came
For years, some state courts and insurance companies have been telling contractors that the construction defect claims they face aren't covered by their insurance because faulty work is not an "accident" that insurance is intended to guard against. This situation is rapidly changing, however, as more and more courts are concluding that defective construction is an "accident." This has opened the way for these claims to be covered by insurance. Related Links: Insurance Coverage for Defecive Workmanship Practical Use of Expert Witnesses in Construction Defects Cases There are four questions that must be answered to determine if a construction defect
The roadside scenery along U.S. Interstate 15 through Draper, Utah, about 20 miles south of Salt Lake City, is not unlike that in other metropolitan areas of the West—filled with signs for fast food restaurants and motels. But the owner and builder of the new Living Planet Aquarium, slated to open in December, are hoping the new facility west of the interstate among the strip malls and low-profile office parks will stand out like a fish out of water. Related Links: Natural History Museum of Utah Blends Natural Elements Into the Design Clyfford Still Museum Shines as a Concrete Jewel
Replacing the Pecos Street Bridge over Interstate 70 in central Denver this year encompassed several firsts for the project owner—the Colorado Dept. of Transportation—the project team and the industrial neighborhoods on either side of the interstate that depend heavily upon the busy interchange. Related Links: CDOT Completes Pecos Bridge Replacement in One Weekend I-15 CORE Project The project began "as just a standard bridge replacement," says Tamara Hunter-Maurer, the design and construction engineer for CDOT. The 1965 bridge had outlived its functional life and needed to go, but replacing it would be difficult because the interchange is just west of
Despite a series of recent reports that the U.S. economy finally seems to be on firm ground and trending upward, the 2014 outlook for the construction sector remains mixed and riddled with questions. Related Links: Slow, Steady Job Growth Forecast for Colorado in 2012 2013 Will Finish Strong, Simonson Says An early December report from the U.S. Labor Dept. showed that the nation's gross domestic product rose 3.6% in the third quarter, unemployment dropped to 7%—the lowest point in five years—and the country created 203,000 jobs in November. The growth in GDP was well above the 2.8% increase that had
After experiencing two solid years of recovery in 2012 and 2013, the region's specialty contracting sector is anticipating slower growth, but not a pullback, in 2014. Many of the old issues remain: stiff competition for jobs, lower-than-desirable margins and slow pay practices from some owners. Add to that new concerns about labor shortages for skilled workers, more regulation and uncertainty surrounding the impact of the Affordable Care Act. But then the good news: More work is available, materials prices have stabilized and most firms have solid recovery plans. Photo courtesy of Cache Valley Electric Cache Valley Electric did the electrical,
Wyoming’s mechanic’s lien laws are designed to protect individuals who provide labor or materials for the improvement of existing real property or new construction of real property. The intent is to provide a remedy to lien claimants in addition to other remedies afforded at law, such as breach of contract. The effect of a mechanic’s lien is that an encumbrance is placed on the title of the improved property. The property, in turn, serves as security for the debt incurred for the improvements. The encumbrance remains on the property even if title is transferred to a new owner, unless the
Does an unsolicited offer to purchase your business have you dreaming about the next phase in life? If so, don’t run out and put a down payment on the vacation home just yet. Attempting to complete a business sale with only one prospective buyer can lead to a host of problems, including leaving money on the table, or worse, a failed transaction. In fact, if you have received an unsolicited offer, it is a good indication that your business has market demand and would benefit from a confidential competitive auction process. While there are success stories with sales transactions involving
RSS
