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Dive Brief: Construction employment declined by 61,000 in February, while the sector’s unemployment rate soared to 9.6% amid severe winter weather and continuing weakness in new nonresidential projects, according to an analysis by the Associated General Contractors of America of government data released Friday.  The job loss was concentrated in nonresidential construction, with a decline of 60,800 jobs in February, following a dip of 400 jobs in January. The February 2021 total was 316,000 jobs or 6.8% less than a year earlier.  “The steep decline in construction employment in February...

Spending was up on a monthly basis in nine of the 16 nonresidential subcategories. March 4, 2021 Associated Builders and Contractors Inc. National nonresidential construction spending increased 0.9% on a monthly basis in January 2021 but is down 5% since January 2020, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $799.1 billion for the month. Spending was up on a monthly basis in nine of the 16 nonresidential subcategories. Private n...

Almost all of the job loss was in nonresidential construction, a segment in which employment declined by 60,800 jobs on net in February.

US Recession Recovery Shows Signs of Stalling with Just 4.0% GDP and 3.0% Nonresidential Construction Growth in Q4 Compared to 33.4% Q3 GDP growth, 4.0% represents drastic slowing, 'An indication of an economy still beset by uncertainty and interruption. Economic momentum has been decelerating rapidly since the summer,' says ABC's chief economist January 28, 2021 Bureau of Economic Analysis The U.S. economy expanded at an annualized 4.0% rate in the fourth quarter of 2020 as the nation’s recovery from last spring’s economic devastation continued. Nonresidential investment in structures i...

Private nonresidential spending was down 1.7%, while public nonresidential construction spending was up 0.5% in December. February 1, 2021 U.S. Census Bureau National nonresidential construction spending declined 0.8% in December 2020, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $790.2 billion for the month, 4.8% lower than in December 2019 but 3.8% higher than in December 2018. Spending fell on a monthly basis in nine of the 16 no...