The cost of goods and services used in construction climbed by a record-setting 4.3 percent in May and 24.3 percent over the past 12 months, jeopardizing contractors’ solvency and construction workers’ employment.
Construction Officials Say New Infrastructure Funding, Tariff Relief and Measures to Reduce Manufacturing and Delivery Delays for Key Materials Needed to Jump Start Nonresidential Activity
June 4, 2021
Nonresidential construction spending in April declined for the fifth-straight month to a two-year low as demand waned for numerous public and private project categories in the face of lengthening production and delivery times for materials, along with fast-rising prices for many items, according to an analysis of new federal construction spending data by the Associated General Contractors of America.
Construction Officials Say New Infrastructure Investments, Tariff Relief for Key Construction Materials are Needed to Help Contractors Cope with Continued Economic Impacts of the Pandemic
May 18, 2021
Nonresidential construction spending fell to a two-year low in March as contractors struggled with slumping demand for most project types and growing shortages of materials, transport, and workers, according to an analysis of new federal construction spending data by the Associated General Contractors of America.
Association Officials Note that Continued Construction Job Gains Could be Impacted by New Infrastructure Funding Proposals, Rising Materials Prices, Erratic Delivery Schedules and Broader Market Uncertainty
April 16, 2021
Construction employment climbed by 110,000 in March as the industry recovered from severe winter weather that pushed employment down by 56,000 in February, according to an analysis by the Associated General Contractors of America of government data released.
Texas, Louisiana Have Worst Job Losses Since Pandemic Struck, While Idaho Adds the Most Jobs; California, South Carolina Have Worst One-Month Job Losses as Florida, Vermont Top Other States
March 29, 2021
Construction employment in January remained below pre-pandemic levels in all but eight states, according to an analysis by the AGC of America of government employment data released, while more firms have reduced headcount than have added to it in the past year, the association’s recent survey shows.
New Producer Price Index Data Confirms Association Survey Showing Most Construction Firms are Being Harmed by Skyrocketing Costs for Products Like Lumber while Shipping Problems Impact Project Schedules
March 22, 2021
Another round of steep price increases and supply-chain disruptions are wreaking hardships on contractors, driving up construction costs and slowing projects, according to an analysis by the Associated General Contractors of America of government data released.
Demand for Nonresidential Construction and Public Works Will Decline Amid Ongoing Pandemic Concerns, Worsening State and Local Budgets as Association Officials Call for New Recovery Measures
February 12, 2021
Construction spending in December exhibited sharply varied trends, with downturns from a year earlier in every private category, mixed results for public construction, and double-digit increases in residential construction, according to an analysis by AGC.
New Industry Outlook Finds Most Contractors Expect Demand for Many Categories of Construction to Decline, Few Firms Expect the Industry to Recover to Pre-Pandemic Levels Soon, but will Sustain IT Investments
January 15, 2021
Most contractors expect demand for many types of construction to shrink in 2021 even as the pandemic is prompting many owners to delay or cancel already-planned projects, meaning few firms will hire new workers.