Items Tagged with 'construction'

The latest report from the U.S. Bureau of Labor Statistics shows the construction sector added 33,000 jobs in January, bringing total construction employment to more than 8.3 million workers nationwide. The gain represents one of the largest monthly increases since mid-2023 and was driven largely by hiring among nonresidential specialty trade contractors.

The U.S. construction sector continued to grow in June, adding 15,000 jobs despite mixed performance across nonresidential categories. With unemployment in the industry dropping to 3.4%, economists say momentum remains strong, but rising material costs and interest rates could challenge margins in the months ahead.

While overall year-over-year price increases remain modest, rapid gains in early 2025 and looming tariff hikes signal rising pressure for contractors.

Nonresidential construction spending is projected to grow modestly by 2.2% in 2025 and 2.6% in 2026, with commercial construction expected to rise 1.7% this year and 4.6% in 2026, according to the American Institute of Architects.

With $10M+ in annual trades investment, Milwaukee Tool drives nationwide safety training, PPE innovation and workforce empowerment.

ABC’s latest data shows construction backlog rose to 8.7 months in April, the highest since September 2023, even as contractors face rising material costs and uncertain sales outlooks.

The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.

The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.