State of the Industry

RSS

Total construction spending in April increased by 1.2 percent from March and 7.2 percent year-over-year as widespread gains in nonresidential and multifamily construction spending offset a continuing plunge in single-family homebuilding, according to an analysis June 1 by the Associated General Contractors of America of new federal data.

Construction employment increased in 45 states in February from a year earlier, while 24 states added construction jobs from January to February, according to a new analysis of federal employment data released by the Associated General Contractors of America on March 24.

The construction industry continues to face a skilled labor shortage, with worker scarcity worsening since the beginning of the pandemic, according to Marcum LLP’s annual analysis of the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey.

On March 16, the Equipment Leasing & Finance Foundation released the March Monthly Confidence Index for the $1 trillion equipment finance industry. March’s index is 50.3, a decrease from the February index of 51.8.

Construction firms added 24,000 employees in February, as hefty pay raises for hourly workers enabled the industry to increase employment more steeply than other sectors, according to an analysis by the Associated General Contractors of America of new government data.

As part of Women in Construction Week, the National Center for Construction Education & Research conducted interviews with 176 tradeswomen and analyzed 770 responses to a survey directed to women in the industry.

Total construction spending decreased by 0.1 percent in January, as declines in single-family homebuilding and public construction offset marginal gains from private nonresidential construction, according to an analysis by the Associated General Contractors of America March 1 of new federal data.

Billd’s National Subcontractor Market Report survey showed that materials and labor cost subcontractors $97 billion more than expected last year, according to Zachary Phillips of Construction Dive. Billd is a construction financial support company based in Austin, Texas.

On Feb. 22, the experts at Zonda released the New Home Market Update report for January 2023.

On Friday, March 24, Governor Ron DeSantis signed House Bill 837, a companion to Senate Bill 236. This major legislative action will bring about tort reform in Florida.