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January construction spending first drop in 6 months
Construction spending fell in January for the first time in six months as companies cut investment in buildings and the federal government scaled back projects, the Commerce Department said. Read more at Reuters.
Job Growth Continues to Improve
WASHINGTON—U.S. job creation remained solid in February and was stronger in previous months than initially thought, marking one of the economy’s best stretches of the nearly three-year-old recovery. Jobs outside of agriculture grew by 227,000 last month, the Labor Department said Friday. Meanwhile, employers added 284,000 jobs in January—roughly 40,000 higher than an initial estimate—and … Read more
Private nonresidential building trends improve
Weaker construction of hotels, manufacturing facilities and health care facilities in the private sector left January construction spending flat with December, the U.S. Census Bureau reported Thursday. Nevertheless, nonresidential construction companies have been a major contributor to the overall industry growth in the last year or so, according to an analysis of private-company financial statements by Sageworks Inc., a … Read more
Why Recent Job Gains May Stick This Time
The U.S. job market’s recent improvement has some economists wondering if 2012 will break from last year’s pattern of strong job growth in the winter followed by a slowing in the spring and summer. One reason for optimism is that job growth has spread to more of the nation’s largest metro areas—divisions bigger than cities … Read more
Economists More Optimistic, Keep Growth Forecasts
NABE economists see the unemployment rate sticking at 8.3 percent this year, matching January figures. That’s improved from their November forecast of 8.9 percent. Unemployment peaked at 10 percent in October of 2009. The economists expect job growth to accelerate next year, and forecast the unemployment rate will fall to 7.8 percent. GDP growth needs … Read more
Bob Balgenorth: Project Labor Agreements are good for public projects
A PLA is a risk-management tool. Negotiated before work on a project begins, it generally includes a no-strike clause as well as a process to resolve disputes. It establishes the hours of work, wages, benefits and working conditions. Many municipal PLAs also have local-hire provisions and other benefits desired by the community. Read more at … Read more
January Construction Recedes 2 Percent
New York, N.Y. – February 21, 2012 – The value of new construction starts dropped 2% in January to a seasonally adjusted annual rate of $402.2 billion, according to McGraw-Hill Construction, a division of The McGraw-Hill Companies. Both nonresidential building and housing settled back from December, while the nonbuilding construction sector managed to register a … Read more
Architecture Billings Hint at Expansion Trend with Third Consecutive Monthly Increase
“Even though we had a similar upturn in design billings in late 2010 and early 2011, this recent showing is encouraging because it is being reflected across most regions of the country and across the major construction sectors,” said AIA Chief Economist Kermit Baker. Read more at DURABILITY + DESIGN.
IUPAT Missouri – Working Together to Keep St. Louis Working
In February, International Union of Painters and Allied Trades District Council 2, in conjunction with a group of fellow trade unions and builders, announced the continuation of a new and successful stimulus program that “focuses on putting people back to work and giving consumers a great deal,” according to the released announcement. It’s called the … Read more
More on the Economy – Construction Added Jobs
The U. S. Economy added 243,000 jobs in January – the fastest rate since April, 2011. The increase appears to be a solid one based on economic information collected in government surveys. The official government unemployment rate declined from 8.5% to 8.3%. Manufacturing added 50,000 jobs and 21,000 new jobs were added to construction. Read … Read more
