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Posts Tagged ‘Construction services’

July 2018 issue based on June starts statistics. 1st half 2018 results.

Friday, July 13th, 2018
Article source: ConstructConnect

ConstructConnect announced today that June’s volume of construction starts, excluding residential activity, was $39.8 billion – a month-to-month change of -24.7%. The one-quarter drop was not due to market conditions. Rather, the comparison of June versus May suffered from the latter including Foxconn Technology’s $10 billion industrial plant in Wisconsin. June relative to May exclusive of that single mega project was still down, but by only -7.2%. The historical May-to-June change, aided by favorable ‘seasonality’, has been +4.5%.

2018-07-11-US-Nonresidential-Construction-Starts-June-2018

June 2018 versus the same month of last year was -6.3%. June 2018 versus the five-year average for June, from 2013 through 2017, was +3.2%.

Year-to-date starts in 2018, compared with first half (H1) 2017 starts, have been -5.5%.

The starts figures throughout this report are not seasonally adjusted (NSA). Nor are they altered for inflation. They are expressed in what are termed ‘current’ as opposed to ‘constant’ dollars.

 


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ConstructConnect’s April Starts +14%, A Bit Better than Usual Seasonal Uptick

Tuesday, May 15th, 2018

Article source: ConstructConnect

ConstructConnect announced today that April’s volume of construction starts, excluding residential activity, was $42.5 billion. The latest month-to-month change was +14.3%. Moving from March to April usually accounts for the biggest gain due to seasonality. The long-term average increase in starts between the third and fourth months of the year has been +12.0%.

2018-05-14-US-Nonresidential-Construction-Starts-April-2018

April of this year versus the same month of last year was -5.0%. April of this year versus the five-year average for April, from 2013 through 2017, however, was a much better +28.8%.

April 2018’s year-to-date performance was -15%. Still, that was an improvement over March’s first-reported pull-back of -22%. The year-to-date percentage changes early in 2018 are being held down by Q1 2017’s exceptional strength in starts. This effect will gradually dissipate.

The starts figures throughout this report are not seasonally adjusted (NSA). Nor are they altered for inflation. They are expressed in what are termed ‘current’ as opposed to ‘constant’ dollars.


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An Eye-Popping 3.9% Unemployment Rate in April’s U.S. Jobs Report

Friday, May 4th, 2018

Article source: ConstructConnect

April’s Employment Situation report from the Bureau of Labor Statistics (BLS) highlights a month-to-month increase in total U.S. jobs of +164,000. But that figure understates the employment improvement, since March’s level was revised upwards by +30,000.

U.S. April Jobs Report Graphic

Therefore, the accumulated gain in April was +194,000 jobs.

The average monthly increase in total U.S. employment through the first one-third of this year has been +200,000. In 2017, during the same January-to-April time frame, the average monthly climb was +117,000. The year-over-year increase in the monthly average is +13.0%.

The number that really pops out from the latest data release on the U.S. labor market, however, is the unemployment rate. Prior to April, it had been sitting at 4.1% for six months in a row.

In April, it finally dropped below 4.0% to stand at 3.9%. A 3.9% jobless figure is the lowest since December 2000, almost two decades ago.

Furthermore, there is another measure of the unemployment rate calculated by the BLS that is broader in scope and habitually higher. Its official title is U-6 and it includes individuals only marginally attached to the labor force, plus those who are engaged part-time but would prefer to be occupied full-time.

 

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11 Mid-April Economic Nuggets

Monday, April 16th, 2018

Article source: ConstructConnect

Despite U.S. construction continuing to record a total activity level below potential, the sector should be receiving more bouquets for the bigger role it is playing in the economy overall.

11 Mid-April Economic Nuggets Graphic

Historical data from the Bureau of Labor Statistics (BLS) records that in the year 2000, the number of manufacturing jobs in America’s economy was 17.3 million. The same source records that the number of construction jobs at the turn of the century was 6.8 million.

In 2017 versus 2000, the number of manufacturing jobs in the U.S. was down by 28% to 12.4 million, while the number of construction jobs was ahead by 3%, to 7.0 million.

The clearest way to illustrate the rising importance of construction relative to manufacturing, at least from an employment standpoint, is to express their relationship in terms of a ratio. In 2000, there were four jobs in construction for every ten jobs in manufacturing. Now, there almost six on-site jobs for every ten production-line positions.

More dramatic still has been the shift in favor of construction work in Canada. In 2000, there were 2.2 million Canadian manufacturing jobs compared with 800,000 in construction. By 2017, manufacturing employment had retreated by -23%, to 1.7 million, while construction employment had surged by +75%, to 1.4 million.
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Total U.S. Jobs +313,000 in February; Construction and Manufacturing Combine for +92,000

Tuesday, March 13th, 2018

Article source: ConstructConnect

In February, the U.S. recorded its biggest month-to-month jump in total employment in more than a year-and-a-half, according to the latest Employment Situation report from the Bureau of Labor Statistics (BLS).

Total U.S. Jobs +313,000 in February; Construction and Manufacturing Combine for +92,000 Graphic

A monthly net increase in jobs of +170,000 is acceptable; +200,000 is good; +300,000 is outstanding. February’s number was +313,000. (The last time a better result was achieved occurred in July 2016, at +325,000 jobs.)

The average jobs increase in the first two months of this year has been +20% compared with the average for January-February of last year, +276,000 over +230,000.

Because more people returned to the labor force and the participation rate climbed from 62.7% to 63.0% between January and February, the unemployment rate stayed at 4.1%. The jobless rate has been 4.1% for the past five months in a row, dating back to October 2017.

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U.S. December Jobs Creation ‘Weakish’, but Construction Compensation Bullish

Friday, January 5th, 2018

Article source: ConstructConnect

U.S. net total jobs creation in the final month of last year was a tepid +148,000, according to the latest Employment Situation report from the Bureau of Labor Statistics (BLS). The ‘weakish’ December result caused the monthly average throughout all 2017 to pull back slightly to +171,000

Just the same, +171,000 as a monthly average in 2017 signifies a more than satisfactory performance, although it was down from 2016’s comparable figure of +187,000.

The U.S. unemployment rate in December remained the same as in November, at an exceptionally tight 4.1%.

The seasonally adjusted (SA) number of U.S. construction jobs recorded a nice gain in December of +30,000. Such a substantial increase in employment for on-site workers was the biggest leap since February 2017’s +54,000.
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Expected BIM Trends in 2013

Thursday, December 20th, 2012

BIM Trends for 2013

According to a study       conducted by McGraw-Hill Construction, around 71 percent of the AEC companies in North America are using building information modeling (BIM) technology, as of 2012. Among the companies using BIM, nearly 50 percent have been using it for more than five years, while around 40 percent are implementing it in more than 60 percent of their projects.

Another survey, conducted by Design Master Software Inc. in 2012, among 74 engineers and designers from the US, Canada, and several other countries, revealed that around 62 percent of the respondents are already using 3D-BIM. Moreover, around 75 percent of those who are not using this technology said that they expect to use it on more than half of their projects during 2013, 2014 and 2015, while another 30 percent said that they will use 3D-BIM in all their upcoming projects in the next three years.

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Future of Building Information Modeling

Wednesday, July 25th, 2012

Did you know that designers of the very first automobile dubbed the invention as “horseless carriages” since they were reluctant to change their mindset and accept a revolutionary technology? Similarly, designers of steel frames covered them in masonry so that they looked like already-known bearing wall structures. It took them years to utilize the expressive capability of steel that is quite prevalent in designing buildings today. There are scores of other examples where almost every industry has tried to dismiss an innovative solution and attempted to shape it according to familiar practices. But eventually, true innovation conquers all. The AEC industry is also undergoing a similar phase with BIM technology. Nevertheless, scope and future of BIM services is resplendent with opportunities galore. Let us get a sneak peek at what the future holds for Building Information Modeling.

Building Information Modeling – The Future Ahead

The increased awareness about green energy efficient homes has led to an amplified interest in Building Information Modeling services as the means to achieve this. The drivers of adopting green technology include energy efficiency, environmental health and generating less waste. With BIM technology, AEC firms can build facilities with Green House Gases (GHG) control, carbon regulation and zero emissions.

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BIM – A Collaborative Approach to Working

Wednesday, July 18th, 2012

Companies such as Toyota and Boeing in the manufacturing sector have been using digital design models for decades and now seem to have become masters in the art of collaborative projects. For the construction industry to reach that level where collaborative thinking is second nature, the industry needs to expand its view and come out of its safe haven. Clashes between architects and engineers, or between contractors and suppliers are not uncommon. Building Information Modeling, with its very core of collaboration, attempts to bridge these gaps between different stakeholders. Slowly and steadily, the AEC industry is also moving on to that plane where an integrated approach is fast replacing the traditional methods.

Building Information Modeling

Integrated practice is the key to collaboration in any domain. An integrated approach is when all the stakeholders involved in a construction project life cycle – architects, designers, engineers, contractors etc. work together. Throughout the whole building life-cycle, they can, together, do their bit of value addition towards the final structure. Such a collaborative way of functioning offers enhanced quality and efficiency for all building processes, thereby resulting in achieving cost effectiveness as well as client satisfaction, which is crucial to any project.

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