Monday, June 10, 2013

Construction Industry Activity Updates – from ABC and from FMI

From Associated Builders & Contractors:

Friday, June 07, 2013 9:17 AM

With the summer building season underway, the nation’s construction industry added 7,000 jobs in May as the unemployment rate dipped to 10.8 percent, which is down from 13.2 percent in April and the lowest rate since October 2008, according to U.S. Labor Department. Since May 2012, the industry added 189,000 jobs, or 3.4 percent.

Link to full article:

And, from FMI’s construction forecast:

Construction Forecast
Although the strength of individual markets is shifting, our forecast for total construction put in place for 2013 continues to show an increase of 8% over 2012 levels. The forecast total for construction in 2013 is $918,897 million, a solid improvement, but we don’t expect to return to the days of an- nual construction above the trillion-dollar mark until 2015. The star of the show is residential buildings with a 23% rise in single-family buildings. In the early months of the Great Recession, it seemed that nonresidential construction would manage to hold enough momentum to carry it through even though residential construction was tanking. It might have made it if the recession had been of the brief variety. We are now seeing a lag on the upside as commercial, lodging and office construction finally start to pick up.

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