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Posts Tagged ‘Construction industry’

12 Mid-May Economic Nuggets With an Emphasis on Mega Projects

Friday, May 18th, 2018

Article source: ConstructConnect

t’s been a busy four-weeks-plus on the news front since the writing of the previous mid-month Nuggets report. A surfeit of headline stories has included: a volcano erupting in Hawaii; an on-again off-again bromance between President Trump and Kim Jung Un of North Korea; the relocation of America’s embassy in Israel to Jerusalem; feverish preparations for a royal wedding ‘across the pond’; U.S. withdrawal from the deal designed to limit Iran’s nuclear weapons capability; a drip-drip of revelations concerning Washington influence-peddling dished out by Michael Avenatti, the lawyer for Stormy Daniels; and violence in the Gaza Strip.

A Dozen Mid-May Economic Nuggets Graphic

Shunted aside by other attention-grabbing matters, the economy seems to have taken a back seat for a while. But the spotlight never stays away for long and there are the following observations that arise from the latest press and data releases issued by government and private sector entities.

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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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Spring 2018 Put-in-place Construction Forecasts for Canada

Tuesday, March 27th, 2018

Article source: ConstructConnect

The historical records of Canada’s put-in-place capital spending numbers for residential, commercial, industrial, institutional and engineering construction are to be found in Statistics Canada’s on-line Cansim Tables 026-0013, 026-0016 and 029-0045.

Whereas construction ‘starts’ numbers are lump-sum figures entered at the time of groundbreaking, the ‘put-in-place’ data series are meant to mirror progress payments as projects proceed.

2018 03 26 Canada put in place construction forecasts Graphic

The history i n those previously mentioned Cansim Tables, however, currently stops at 2017. But there is another source for 2018 estimates – the non-residential Capital and Repair Expenditures (CARE) survey.

There’s a problem, though. The 2018 data from CARE is set out according to capital spending by industrial sectors. These is no re-arrangement of those amounts according to the five type-of-structure categories.

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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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U.S. Put-in-place Construction Spending Sprightlier in November

Wednesday, January 3rd, 2018

Article source: ConstructConnect

After a stretch of several months earlier in the second half of 2017, when many of the Census Bureau’s sub-category put-in-place (PIP) construction spending numbers stalled, some sprightlier results were recorded once again in November.

Given that 11 of last year’s 12 months have now been measured, the 2017 over 2016 year-end percentage-change for total construction will almost certainly be close to +5.0%. All the increase will have originated in the residential sector, +11.0%, with non-residential remaining flat.

It’s important to note, however, (i.e., from accompanying Table 1) that with respect to latest three-month results, non-residential work has been staging a comeback. For latest 3-months over previous 3-months (annualized), ‘total’, residential and non-residential are almost the same, only slightly below +9.0%
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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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