Page 25 - Ken Simonson News Today

Construction employment remains below pre-pandemic levels in 21 states and D.C. while 29 states now employ more construction workers than in February 2020, according to a new analysis of federal employment data released by the Associated General Contractors of America (AGC).

February prices for diesel fuel were up 57.5 percent over 2021, according to an analysis of government data by the Associated General Contractors of America. The February data was released prior to Russia’s invasion of Ukraine.

I’m neither an economist nor a forecaster. However, there are a few key market indicators I’ve been tracking in recent months in an effort to see though the cloudy forecasts of leading construction economists.  

Once homebuilders worried primarily about high interest rates. Benefits of the long run of record-low interest rates are paling following product scarcity, delivery delays, labor worries and rising material prices.

Cindy Axne claimed inflation is not caused by the increase in government spending mainly advanced by Democrats during and after the pandemic.

Hourly wages posted their steepest rise since 1982; competition for workers is expected to intensify.

Cindy Axne claimed inflation is not caused by the increase in government spending mainly advanced by Democrats during and after the pandemic.

Both the Associated General Contractors (AGC) and the Associated Builders and Contractors (ABC) have reported that construction added 60,000 jobs in February, according to the groups' analyses of government data.

The ongoing recovery from recent storms continues to support job growth in the construction industry, says Ken Naquin, CEO of Louisiana Associated General Contractors. 

Construction spending increased in January to $1.68 trillion, up 8.2 percent over the same period in 2021, according to the Associated General Contractors of America. Compared to December, spending increased 1.3 percent. Gains were strong in private nonresidential and residential construction, but mixed for public spending, according to the group.