B&I, based in Fort Myers, Florida, is one of a growing number of contractors across the country to adopt “lean construction” techniques: a plug-and-play approach to construction that lets workers prefab a project off-site, section by section. Then, at the job site, all that remains is putting the pieces together.
The May 2018 not seasonally adjusted national construction unemployment rate fell 0.9 percent from May 2017 to 4.4 percent, the lowest May rate on record. At the same time, the construction industry employed 291,000 more workers nationally than in May 2017.
Confidence in the commercial construction industry is strong, despite significant concerns around jobsite efficiency and labor productivity, according to the Q4 2017 USG Corporation + U.S. Chamber of Commerce Commercial Construction Index (Index). The Index shows that optimism remains high in the commercial construction industry, with 57 percent of contractors expecting to hire in the next six months and a large majority reporting stable or increased revenue expectations in the next year.
Michael D. Bellaman, president and CEO of Associated Builders and Contractors Inc. (ABC), issued a statement supporting the Unified Framework for Fixing Our Broken Tax Code released by congressional and administration leaders.
Construction input prices rose 0.6 percent in August and are up 3.7 percent on a yearly basis, according to an analysis by Associated Builders and Contractors Inc. (ABC) based upon data released by the Bureau of Labor Statistics (BLS). Nonresidential construction input prices behaved similarly, rising 0.6 percent for the month and 3.5 percent for the year.
Real gross domestic product (GDP) expanded by 2.6 percent on a seasonally adjusted annualized basis during the year’s second quarter, according to Associated Builders and Contractors Inc.’s (ABC) analysis of data released by the U.S. Bureau of Economic Analysis. Nonresidential fixed investment, a category of GDP embodying nonresidential construction activity, expanded at a 5.2 percent seasonally adjusted annual rate. This follows a 7.2 percent expansion during the first quarter.
In June, the not seasonally adjusted (NSA) construction unemployment rate was 4.5 percent, down 0.1 percent from a year ago. The percentage is the lowest June rate on record, according to data from the U.S. Bureau of Labor Statistics (BLS).