US Construction Unemployment Rates Historically Low in 22 States for October

Warmer temperatures in the east and hurricane recovery efforts are sustaining employment rates in the construction industry, where Associated Builders and Contractors (ABC) said unemployment rates dropped across 45 states year-over-year (YOY). According to U.S. Bureau of Labor Statistics data, the not-seasonally adjusted (NSA) national construction...
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US Building Materials Outlook Lowered

The outlook for the U.S. building materials sector has been lowered due to a decreased demand in private construction. Moody's Investors Service downgraded its outlook from positive to stable following four years of strong growth. "We expect lower organic operating income growth in the building materials sector over the next 18 months, as growth in...
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California Wildfire Recovery, Unlicensed Contractors

Future residential projects in California will likely take place farther outside of wooded areas, and more will be completed by licensed, contract workers. The Contractors State License Board (CSLB) reached out to thousands of residents affected by the California campfires and wildfires urging them to only work with licensed contractors to ensure p...
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Rising Interest Rates, Home Prices Bring Housing Affordability to 10-Year Low

Housing affordability in the U.S. continues to turn heads as the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) revealed a decade-long low in the third quarter of 2018. Economists say rising interest rates and home prices as well as the ongoing labor shortages are to blame. "Builders are increasingly...
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The 2018 Election Results on Public Construction Funding

The Nov. 6 election saw record voter turnouts across the country, making history in gubernatorial and Congressional elections. Results flooded in, changing the balance of power in the House of Representatives and shaking up statewide legislation. The construction industry saw changes too, primarily in terms of funding public projects. Several state...
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Despite Monthly Dip, September’s Nonresidential Construction Spending Soars Over 2017

Although nonresidential construction spending dipped slightly in September, Associated Builders and Contractors (ABC) isn't too concerned as yearly data shows significant improvement over September 2017. According to ABC's analysis of U.S. Census Bureau data, the country's nonresidential construction spending reached almost 9% higher than last year...
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Super Typhoon Yutu and Recovery Efforts in US Territories

One of the strongest storms to hit the U.S. since 1935 struck western U.S. territories Oct. 25, leaving more than 100 injured and one dead, according to KUAM News. Relief efforts continue, now with help from federal funds as a Major Disaster Declaration for Super Typhoon Yutu was confirmed Oct. 27. With such devastating damage, rebuilding efforts w...
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Existing-Home Sales and Housing Starts Fall in September, Decreasing Consistently

Sales continue to fall for previously owned homes in the U.S., and September showed the sixth-straight monthly drop in sales, according to Bloomberg . Sales of these homes have fallen to the lowest level since 2015, and this consistent drop is the longest since 2014. Despite a lack of desire for purchasing older homes, U.S. housing starts also fell...
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September U.S. Housing Starts Take Step Back

U.S. housing starts did not turn out as expected in September, according to the latest release from the Census Bureau and Department of Housing and Urban Development. Privately-owned housing starts staggered slightly from August to a seasonally adjusted rate of 1.201 million in September. Economists surveyed by Reuters expected starts to decline, h...
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Single-Family Residential Permits Soar in Some US Regions, Sharply Decline in Others

Single-family residential permits went up by more than 6% from last August in the U.S. Despite an overall climb in permits, the Northeast saw an overall decline of more than 4%, and the Midwest did not see any change at all. According to the New Residential Construction Survey by the United States Census Bureau, most single-family construction seem...
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