Residential Construction Jobs See Increase for August

September 7, 2018 Employment in the residential construction industry remains stable, sitting at 3.9% this August, according to the National Association of Home Builders (NAHB). Jobs increased by 201,000, and employment in residential construction continued to trend upward. The number of unemployed persons decreased by a total of 46,000, yet the nu...
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The Construction Industry’s Rapid Development Over Five Years

September 4, 2018 The construction industry is changing at a more rapid pace than ever anticipated—faster in the past five years than in the past 50, according to a recent survey by FMI Corporation titled Managing Risk in the Digital Age, which surveyed contractors. As many as 90% of contractors reported having a shortage of skilled workers and 90%...
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New Single-Family Home Sales Drop in July

August 24, 2018 New single-family home sales fell during the month of July with contracts falling by 1.7% from June, according to a recent update from the National Association of Home Builders (NAHB). The annual rate comes to 627,000. This dip in contracts derives from an adjusted measurement in June, which went from 631,000 to a new estimate of 63...
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Simulation Tech Enhances Decision-Making Process for Infrastructure Projects

Aug. 21, 2018 In some way, shape or form, artificial intelligence (AI) is making a name for itself in the business community. The construction industry is no exception as recently seen in the United Kingdom, where a $4.5 million investment will fund a software company’s latest technological endeavor to create real-world simulations of infrastructur...
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US Lumber Tariffs Hurting Home Builders and Buyers

August 17, 2018 The price of Canadian softwood lumber continues to rise in the U.S., now with 20% tariffs on Canadian wood. The tariffs are meant to encourage builders to buy American-made lumber, however the demand for lumber has proven to be far too great for the U.S. to handle on its own. Some home builders are instead beginning to import from o...
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Home Sales, Construction Lagging Behind Economic Recovery

August 14, 2018 Despite an overall robust economic recovery, housing is still a step behind. “The disconnect between a strengthening economy and struggling housing sector has been a common theme throughout this expansion and, unfortunately, is a theme that is likely to continue,” according to a recent Wells Fargo Securities report. Through the firs...
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Nonresidential Spending Predicted to Grow in 2019

August 10, 2018 Nonresidential construction spending is expected to take a step back in 2019 compared to 2018; however, overall nonresidential building is still predicted to grow. At the start of the year, economists from different firms polled by The American Institute of Architects (AIA), said views have changed for the better, according to the r...
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Construction CEOs Still Slow to Embrace Technology

August 8, 2018 A recent survey of CEOs by organization Vistage indicates many construction executives do not plan on expanding the use of technology in their companies. About half of the respondents do not plan on technology impacting their work in the next 12 months, citing the use of blockchain, artificial intelligence, connected devices and inte...
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Construction Industry Booming With New Jobs

August 7, 2018 Unemployment in the construction industry reached an 18-year low in July when an addition of 19,000 net new jobs brought the sector’s unemployment rate down to 3.4%, half a percent lower than the national rate among all industries. Last month’s surprising results come after 13,000 new jobs were created in June, now bringing new const...
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Construction Spending Sees Yearly Climb, Despite MoM Dip

August 3, 2018 After steadily increasing over the past year, construction spending in June 2018 set the industry back a step month-over-month (MoM), yet maintained decent figures year-over-year (YOY). On August 1, MarketWatch reported about a 1% drop in June construction spending but more than a 6% climb since last year. Revised calculations reveal...
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