National construction employment added 16,000 net new jobs on a seasonally adjusted basis in June, according to an analysis of data from the U.S. Bureau of Labor Statistics by Associated Builders and Contractors (ABC). Overall construction employment expanded 3.1 percent on a year-over-year basis, easily outpacing the year-over-year growth rate of 1.6 percent for all nonfarm industries.
The nonresidential construction sector added 10,300 net new jobs in June after adding 4,900 in May (revised upward from 4,400 jobs), while the residential sector added 6,000 net jobs for the month.
The construction industry unemployment rate, which fell 1 percentage point in May, declined further in June and now stands at just 4.5 percent. Construction unemployment tends to decline in the summer. However, the decline in unemployment is still significant because industry unemployment now stands near lows achieved in 2006.
Continue reading “U.S. Labor Market Resurgent in June; Construction Adds 16,000 Jobs”
Construction Unemployment Rates Improve in 24 States
WASHINGTON, June 28 – In May, not seasonally adjusted (NSA) construction unemployment rates were down in 24 states on a year-over-year basis, according to analysis released today by Associated Builders and Contractors (ABC). At the same time, the construction industry employed 192,000 more workers than in May 2016, according to data from the U.S. Bureau of Labor Statistics (BLS), and the national NSA construction unemployment rate was 5.3 percent, up 0.1 percent from a year ago.
Continue reading “Nearly 200,000 Construction Jobs Added Since May 2016, ABC Says”
General Mills announced it has a 15-year power purchase agreement with Renewable Energy Systems for the 150-MW Cactus Flats wind project under development in Concho County, Texas.
The company will purchase renewable energy credits to apply toward its carbon emission reduction goals.
“As we help mitigate the impacts of climate change, investing in wind energy is the right thing to do,” said John Church, Executive Vice President of Supply Chain at General Mills. “This investment is another step towards reducing our energy footprint and achieving sustainable emission levels – in line with scientific consensus – by 2050.” Continue reading “General Mills Buys 100 MW from Cactus Flats Wind in Texas”
WASHINGTON, June 21– Associated Builders and Contractors (ABC) today reported that its Construction Backlog Indicator (CBI) rose to 9 months during the first quarter of 2017, up 8.1 percent from the fourth quarter of 2016. CBI is up by 0.4 months, or 4 percent, on a year-over-year basis.
“This was a terrific report,” said ABC Chief Economist Anirban Basu. “For the first time in the series’ history, every category—firm size, industry and region—registered quarterly growth in CBI. Among the big winners were firms in the western United States and those with annual revenues between $30 million and $50 million per annum.
Continue reading “ABC’s Construction Backlog Indicator Rebounds in 2017: Gains in All Categories During First Quarter”
The Dodge Momentum Index ended a six-month streak of gains in April, falling 5.1% to 133.8 from a downward-revised revised March reading of 140.9, according to Dodge Data & Analytics.
The institutional sector, the driver of previous gains in the index, dropped 12%, while the commercial segment remained almost flat at 0.1%.
Even with this reported setback in momentum, since early 2016, the index has gained more than 20% through the end of March 2017 — Continue reading “Dodge Momentum Index Falls 5% After 6 Straight Months of Gaining”