Page 22 - Ken Simonson News Today

As prices soar, fewer roads might get repaved this summer

As prices soar, fewer roads might get repaved this summer

Construction industry news, trends and jobs for building professionals who want mobile-friendly content.

The price index for diesel fuel jumped 86.5 percent in April compared to 12 months ago, one of many factors driving overall nonresidential input prices up 21 percent for the month, according to the Associated General Contractors of America. In its analysis of government data, AGC called upon the Biden Administration to end tariffs on key materials used in construction and “reconsider” Buy America regulations.

No industry contracted more during Michigan’s “lost decade” than construction. The value of new construction, including homes, offices, factories, hospitals and schools, fell by more than half, from $21 billion in 2001 to $9.2 billion last year, as measured by state gross domestic product. During the same period, Michigan lost 82,000 construction jobs, a 40 percent drop from the 205,000 construction jobs in the state at the end of 2000. Bridge: Factory work drives slow Mich. recovery

Construction employment edged up by 2,000 jobs between March and April as contractors scrambled to find workers in an increasingly tight labor market, according to an analysis by the Associated General Contractors of America of government data.

Spending on most categories of nonresidential and multifamily construction declined from February to March as contractors struggled to find enough workers and get timely deliveries of materials, according to an analysis the Associated General Contractors of America. “Contractors continue to report strong demand for most types of structures, with few owners canceling or postponing planned projects,” said Ken Simonson, the association’s chief economist. “But worker shortages and supply-cha...

Spending on most categories of nonresidential and multifamily construction declined from February to March as contractors struggled to find enough workers and get timely deliveries...

Construction employment increased in three-fourths of U.S. metro areas between March 2021 and March 2022, according to an analysis by the Associated General Contractors of America of new government employment data. “It is heartening to see construction employment come back from the depths of pandemic-induced job losses in most areas,” said Ken Simonson, the association’s chief economist, in a prepared statement. “But the skyrocketing number of job openings shows the industry needs far mo...

The construction industry is in the midst of a period of exceptionally steep and fast-rising costs for a variety of materials, compounded by supply-chain disruptions and difficulty finding enough workers, which could threaten the financial health of many contractors.