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
Sponsored By

Software Reviews
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 Employment Inches Higher in April, Says ABC; Nonresidential Segment Adds 9,000 Net Jobs Print E-mail
Written by Associated Builders and Contractors   
Friday, 04 May 2018

Washington, May 4—Based on recently released data from the U.S. Bureau of Labor Statistics, the U.S. construction industry bounced back in April, adding 17,000 net new jobs, according to an analysis by Associated Builders and Contractors (ABC). Last month, initial estimates showed a 15,000 jobs loss, though that has since been revised upward to a loss of 10,000 jobs. During the past year, the construction industry has added 257,000 new jobs, representing a growth rate of 3.7 percent.

Nonresidential construction employment increased by 9,000 net jobs for the month. Nonresidential specialty trade contractors led the growth, adding 7,300 net jobs, while heavy and civil engineering employment lost 3,400 net jobs in April.

Overall, the construction industry unemployment rate, available only on a non-seasonally adjusted basis, fell 1.1 percentage points to 6.5 percent. While remarkable, it is slightly higher than the 6.3 percent unemployment rate of one year ago. The national unemployment rate, after stagnating at 4.1 percent for several months, finally dipped below the 4 percent mark, settling at 3.9 percent. This is the lowest rate since December 2000.

“Today’s employment report supplies strong confirmation of the ongoing momentum in the U.S. nonresidential construction industry. This is important for a number of reasons,” said ABC Chief Economist Anirban Basu. “First, nonresidential construction spending data has been weak recently, suggesting a possible slowdown in activity despite elevated backlog and other data indicating continued strength. The employment data released today make it highly likely that the nonresidential construction spending data are failing to fully capture the current level of activity.

“Second, the data indicate continued momentum in private nonresidential construction activity, which has served as the primary source of industry growth,” said Basu. “However, public activity continues to be soft, as reflected in the lost employment in the heavy and civil engineering category last month.

“The decline in national unemployment to 3.9 percent offers both positive and negative news,” said Basu. “The positive news is that the U.S. economy continues to flourish, creating new opportunities for job seekers. This should help support continued consumer spending growth. However, the dip in unemployment also foretells more inflationary pressure and higher interest rates. Higher borrowing costs make it more difficult to efficiently finance construction projects. To the extent that interest rates are likely to rise further, construction activity can be expected to flatten at some point in the middle and long term.”
 
Visit ABC Construction Economics for the Construction Backlog Indicator, Construction Confidence Index and state unemployment reports, plus analysis of spending, employment, GDP and the Producer Price Index.

About ABC
Associated Builders and Contractors (ABC) is a national construction industry trade association established in 1950 that represents more than 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

Javad Intros
Total Solution

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
7820B Wormans Mill Road, #236
Frederick MD 21701
301-620-0784
301-695-1538 - fax