Ken Simonson's blog

Construction employment, not seasonally adjusted, increased from July 2020 to July 2021 in 268 (75%) of the 358 metro areas (including divisions of larger metros) for which the Bureau of Labor Statistics (BLS) posts construction employment data, decreased in 54 (15%) and was unchanged in 36, according to an analysis AGC released. [node:read-more:link]

Seasonally adjusted construction employment in July trailed the February 2020 level in 36 states, exceeded it in 14 states, and was unchanged in the District of Columbia, according to AGC’s  [node:read-more:link]

Input PPIs soar in year ending in July; steel prices, lead times rise again, while lumber plunges. [node:read-more:link]

 While the economy has continued its forward progress through the summer, the Dodge Momentum Index has regressed somewhat as higher material prices and shortages of skilled labor continue to exert a strong influence over the construction sector. [node:read-more:link]

Steel remains problematic. Steel Market Update reported on Tuesday that hot-rolled coil averaged $1860, more than four times the August 2020 low point of $440. Contractors report mills are quoting 11-12 month lead times for bar joists. [node:read-more:link]

Total construction starts (in dollars) slumped 7% from May to June at a seasonally adjusted annual rate, but unadjusted starts soared 13% year-to-date, Dodge Data & Analytics reported on July 20. “All three major sectors (residential, nonresidential building, and nonbuilding) pulled back during the month… [node:read-more:link]

Gap between costs and bid prices widens in June; steel climbs further, lumber tumbles in July. [node:read-more:link]

Job openings, hires rates slip in May; Dodge Momentum Index declines in June but remains elevated [node:read-more:link]

Nonresidential construction logs another employment decline in June, spending decrease in May [node:read-more:link]

Construction jobs in May lag pre-pandemic peak in 42 states; AGC issues new Inflation Alert [node:read-more:link]