Construction spending reached a record level of $1.309 trillion in May as monthly increases in residential and public investment outweighed a decline in private nonresidential outlays, according to an analysis of new government data by the Associated General Contractors of America. Association officials warned, however, that continued labor shortages and rising materials costs threaten future growth in demand.
Association Officials Say the Threat of New Tariffs Has Already Led to Dramatic Increases in the Cost of Many Construction Materials, Warn Prices Will Grow As the New Trade Restrictions Take Effect
Thirty-eight states and the District of Columbia added construction jobs between March 2017 and March 2018, while 29 states added construction jobs between February and March, according to an analysis by the Associated General Contractors of America of Labor Department data released today. Association officials said the job gains are coming amid strong private-sector demand and new public-sector investments in school and airport construction.
Construction costs climbed again in March, with increases for a wide range of building materials, including many that are subject to proposed tariffs that could drive prices still higher and cause scarcities, according to an analysis by the Associated General Contractors of America of Labor Department data released today. Association officials warned that tariffs on some items might lead to project delays and cancellations if supplies become unobtainable or too expensive for current budgets.
Thirty-five states and the District of Columbia added construction jobs between January 2017 and January 2018, while 32 states and D.C. added construction jobs between December and January, according to an analysis by the Associated General Contractors of America of Labor Department data released today. Association officials cautioned, however, that newly-imposed tariffs on steel and aluminum products are likely to undermine future job growth in the sector.
Matt Handal, Founder of Help Everybody Every DayIn a fiercely competitive environment, as we’ve been experiencing over the past few years, small differences can play a major role in whether you win or lose a proposal competition.
Christopher Halapy, Shook ConstructionClients’ needs and expectations relative to the services provided by their design and construction partners are evolving. Savvy clients have increased their demand for turnkey services and a higher level of detailed information far earlier in the project planning process. Beyond programming, owners are looking to understand milestone dates, disruption of ongoing operations, and a firm cost for the project, all earlier than this information is typically provided.
Forty states added construction jobs between November 2016 and November 2017, while 39 states added construction jobs between October and November, according to an analysis by the Associated General Contractors of America of Labor Department data released today. Association officials noted that firms in most states are adding jobs amid expectations that demand will continue to grow thanks to new tax cuts and regulatory reforms.
“Today, Congress passed comprehensive tax reform legislation that will lower rates, spur economic growth and impact construction businesses for years to come. However, this process did not start as well as it ended for the construction industry. (See chart linked here for details on the final bill)