State of the Industry

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Contractors encountered a wide range of price changes for key construction inputs in January, with steep increases for fuel, concrete and gypsum products offsetting sharp declines in lumber and steel prices, according to an analysis by the Associated General Contractors of America of government data released Feb. 16.

The industrial insulation market size is projected to reach $5 billion by 2027, at a CAGR of 5.4 percent from 2022. The power industry had the largest market share in 2021, followed by the oil & petrochemical segment during the forecast period.

In this latest episode of “If Walls Could Talk,” W&C’s John Wyatt speaks with FL Crane & Sons’ Ty Crane on the severity of the labor shortage issue and what can be done to combat it. Click here to watch.

Construction firms added 25,000 employees in January and raised wages for hourly workers more steeply than other sectors, according to an analysis by the Associated General Contractors of America of new government data.

Economic development professionals talk a lot about creating jobs, strengthening neighborhoods and stimulating business. If an economy is to be built to sustain families across the nation, housing opportunities must be included as part of economic development.

Total construction spending decreased by 0.4 percent in December, yet industry job openings at the end of the month set a new high for December, according to an assessment the Associated General Contractors of America conducted Feb. 1 of two new federal data sets.

Construction employment increased in 268 of 358 metro areas between December 2021 and December 2022, according to an analysis by the Associated General Contractors of America of new government employment data.

The Economic Policy Institute published a new analysis quantifying the impact on workers in 11 occupations when they are misclassified as independent contractors. Of particular importance for SWACCA, the analysis found that construction workers lost between $10,177 to $16,729 when they are misclassified—the second most of any occupation, listed behind trucking ($11,076 to $18,053).

Construction employment climbed in 30 states and the District of Columbia from November to December, and 42 states added construction jobs during the past 12 months, according to a new analysis of federal employment data released Jan. 24 by the Associated General Contractors of America.