About Amerisurv| Contact    
Magazine | Newsletter    
Flickr Photos | Advertise    
HomeNewsNewsletterAmerisurv DirectoryJobsStoreAuthorsHistoryArchivesBlogVideosEvents
Register to receive the Amerisurv Newsletter | Also See Our LiDAR News Newsletter | RSS Feed  
advertisement


Subscriptions
Software Reviews
Sponsored By

Continuing Series
     RTN
An RTN expert provides everything you need to know about network-corrected real-time GNSS observations.
Click Here to begin the series,
or view the Article PDF's Here
76-PageFlip Compilation
of the entire series
Test Yourself

Got Answers?
Test your knowledge with NCEES-level questions.
  Start HERE
Meet the Authors
Check out our fine lineup of writers. Each an expert in his or her field.
Wow Factor
Sponsored By


Product Reviews
Partner Sites

machinecontrolonline 


lbszone.com

GISuser.com

GeoJobs.biz

GeoLearn

 

Spatial Media LLC properties

Associates

ASPRS

newsnow 

  The American Surveyor     

Construction Job Growth Rebounds in 2017, ABC Says Print E-mail
Written by Associated Builders and Contractors   
Friday, 03 February 2017

Nonresidential Sector Gaining Momentum

Washington, D.C., Feb. 3—National construction employment started 2017 on a high note, adding 36,000 net new jobs on a seasonally adjusted basis in January, according to analysis of U.S. Bureau of Labor Statistics data released today by the Associated Builders and Contractors (ABC). The 0.5 percent increase represents the best month for construction employment growth since March of 2016.

The nonresidential construction sector added 14,900 net new jobs for the month, while its residential counterpart added 20,300 net new jobs (note that these don’t sum to the total due to rounding). The construction industry added 170,000 net new jobs on a yearly basis, an increase of 2.6 percent.

“Today’s employment report indicated growing strength in construction along a variety of dimensions,” said ABC chief economist Anirban Basu. “First of all, there was job growth in both residential and nonresidential categories. Over the past year, nonresidential construction has accounted for roughly a quarter of total construction job creation. However, in January, nonresidential activities accounted for more than 40 percent of net new jobs, indicating relatively faster performance improvement in that part of the nation’s construction sector. Secondly, the industry’s unemployment rate surged in January to 9.4 percent. While one would be tempted to suggest that this was due to a loss of seasonal construction employment, that cannot be a primary explanation since the total number of construction jobs expanded meaningfully in January. The better explanation is that more people have begun to look for work in the construction industry, perhaps in part because of indications from the new administration in Washington D.C. that an infrastructure-led stimulus package is now in the works.

“The rapid pace of hiring is consistent with ABC’s backlog survey, which indicates that the typical nonresidential construction firm can look forward to many more months of activity,” said Basu. “With continued aggressive investment in commercial properties and still-low interest rates, backlog will continue to expand among many contractors. Indeed, the architecture billing index, a key industry leading indicator, surged late last year in part because of growing confidence in the U.S. economy.

“For contractors, this is likely to mean even more difficulty in finding suitable workers to complete projects,” said Basu. “While the industry unemployment rate has been rising, there is no assurance that new entrants into the U.S. labor force possess the skills necessary to work on today’s construction projects. This also likely implicates faster wage growth within the nation’s construction workforce.”

The construction unemployment rate increased by 2 percentage points in January and now stands at 9.4 percent. That is an increase of 4.9 percentage points since July 2016. The nationwide unemployment rate, which inched up to 4.8 percent in January, has decreased by a tenth of a percentage point over that same time period.

About ABC
Associated Builders and Contractors (ABC) is a national construction industry trade association established in 1950 that represents nearly 21,000 members. Founded on the merit shop philosophy, ABC and its 70 chapters help members develop people, win work and deliver that work safely, ethically and profitably for the betterment of the communities in which ABC and its members work. Visit us at abc.org.

 
< Prev   Next >

deliciousrssnewsletterlinkedinfacebooktwitter

Amerisurv Exclusive Online-only Article ticker
Featured Amerisurv Events
List Your Event Here
please
contact Amerisurv


Google
 
AMERISURV TOP NEWS

Spectra Precision
SP90m Receiver

GOT NEWS? Send To
press [at] amerisurv.com
Online Internet Content

Sponsor


News Feeds

 
Subscribe to Amerisurv news & updates via RSS or get our Feedburn
xml feed

Need Help? See this RSS Tutorial

Historic Maps
Careers

post a job
Reach our audience of Professional land surveyors and Geo-Technology professionals with your GeoJobs career ad. Feel free to contact us if you need additional information.

 

Social Bookmarks

Amerisurv on Facebook 

Amerisurv LinkedIn Group 

Amerisurv Flickr Photos 

Amerisurv videos on YouTube 

twitter

 




The American Surveyor © All rights reserved / Privacy Statement
Spatial Media LLC
905 W 7th St #331
Frederick MD 21701
301-620-0784
301-695-1538 - fax