News - ABC New Jersey

Nonresidential Construction Spending Increases Slightly in September, Says ABC

National nonresidential construction spending was up by 0.5% in September, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $883.9 billion for the month. Spending was down on a monthly basis in 11…

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Investment in Structures Falls Again in Third Quarter Even as US Economy Expands

The U.S. economy expanded at a 2.6% annualized rate in the third quarter of 2022, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Economic Analysis. Investment in nonresidential structures decreased at an annual rate of 15.3% for the quarter and has…

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ABC: Construction Input Prices Inched Down in September; Up 41% Since February 2020

Construction input prices dipped 0.1% in September compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released today. Nonresidential construction input prices also fell 0.1% for the month. Construction input prices are up 16.3% from a…

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ABC: Enhancing Inclusion Creates Needed Change in the Construction Industry

WASHINGTON, Oct. 17—Associated Builders and Contractors today announced its strong support of the second annual Construction Inclusion Week, which kicks off today, and the need to champion and foster inclusion, diversity and equity throughout the construction industry. Created by ABC members, Construction Inclusion Week harnesses the collective power of the…

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ABC’s Construction Backlog Indicator Jumps in September; Contractor Confidence Remains Steady

Associated Builders and Contractors reports today that its Construction Backlog Indicator increased to 9.0 months in September and contractor confidence remained steady, according to an ABC member survey conducted Sept. 20 to Oct. 5. The reading is 1.4 months higher than in September 2021. View ABC’s Construction Backlog Indicator and…

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ABC Opposes the Biden Administration’s New Independent Contractor Proposed Rule

WASHINGTON, Oct. 11—Associated Builders and Contractors today responded to the U.S. Department of Labor’s announcement of a proposed rule to rescind and replace a commonsense, ABC-supported final regulation on independent contractors. “ABC is deeply disappointed that the Biden DOL is moving forward with a proposed rule that will disrupt legitimate…

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Nonresidential Construction Employment Increases By 13,000 in September, Says ABC

The construction industry added 19,000 jobs on net in September, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has risen by 292,000 jobs, or 3.9%. Nonresidential construction employment increased by 13,100 positions on…

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ABC: Construction Job Openings Up By 54,000 in August

The construction industry had 407,000 construction job openings in August, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry…

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Nonresidential Construction Spending Down 0.4% in August

National nonresidential construction spending was down 0.4% in August, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $859.3 billion for the month. Spending was down on a monthly basis in 10 of…

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Survey: 97% of ABC Contractors Say Biden’s Government-Mandated PLA Policies Would Make Federal Construction More Expensive

According to a September 2022 survey of ABC contractor members published today, 98% oppose President Biden’s proposed rule mandating project labor agreements (PLAs) on federal construction projects of $35 million or more. PLA schemes needlessly increase costs and exacerbate the construction industry’s skilled labor shortage because they exclude almost nine…