Posts Tagged ‘market’
Wednesday, February 6th, 2019
Article source: ConstructConnect
There are 51 metropolitan statistical areas (CMAs) in the United States with population levels above one million. Drawing from ConstructConnect’s data pool for those 51 cities, Table 1 ranks the Top 25 markets in America for educational facility construction starts last year. (Map 1 showcases the Top 20.)
| Educational Facility Construction Starts |
| Top 25 Markets among Biggest U.S. Cities* |
| 2018 |
| Rank by |
|
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|
|
| 2018 |
|
2017 |
2018 |
|
% Change |
| $ Value |
City / MSA |
($billions) |
|
2018/2017 |
| 1 |
New York, NY-NJ |
$3.290 |
$3.367 |
|
2.3% |
| 2 |
Dallas-Ft Worth, TX |
$2.355 |
$3.100 |
|
31.7% |
| 3 |
Los Angeles, CA |
$2.416 |
$2.626 |
|
8.7% |
| 4 |
Houston, TX |
$2.778 |
$2.592 |
|
-6.7% |
| 5 |
Seattle-Tacoma, WA |
$1.970 |
$1.560 |
|
-20.8% |
| 6 |
Chicago, IL |
$1.188 |
$1.219 |
|
2.6% |
| 7 |
Boston, MA |
$2.023 |
$1.217 |
|
-39.8% |
| 8 |
San Francisco – Oakland, CA |
$1.014 |
$1.145 |
|
13.0% |
| 9 |
Portland, OR-WA |
$0.370 |
$1.117 |
|
201.8% |
| 10 |
Philadelphia, PA |
$0.790 |
$1.090 |
|
38.0% |
| 11 |
Atlanta, GA |
$0.807 |
$0.991 |
|
22.8% |
| 12 |
Washington, DC – VA – MD – WV |
$1.279 |
$0.966 |
|
-24.5% |
| 13 |
San Diego, CA |
$0.543 |
$0.907 |
|
67.2% |
| 14 |
Baltimore, MD |
$0.917 |
$0.866 |
|
-5.6% |
| 15 |
Sacramento, CA |
$0.291 |
$0.852 |
|
193.0% |
| 16 |
Austin, TX |
$0.961 |
$0.762 |
|
-20.7% |
| 17 |
San Antonio, TX |
$1.142 |
$0.735 |
|
-35.6% |
| 18 |
Las Vegas, NV |
$0.286 |
$0.654 |
|
128.7% |
| 19 |
Orlando, FL |
$0.640 |
$0.613 |
|
-4.1% |
| 20 |
Salt Lake City, UT |
$0.660 |
$0.609 |
|
-7.7% |
| 21 |
Cleveland, OH |
$0.369 |
$0.586 |
|
59.0% |
| 22 |
Raleigh, NC |
$0.372 |
$0.574 |
|
54.3% |
| 23 |
Denver, CO |
$0.422 |
$0.573 |
|
35.8% |
| 24 |
Minneapolis – St Paul, MN – WI |
$0.843 |
$0.561 |
|
-33.4% |
| 25 |
Providence, RI-MA |
$0.306 |
$0.551 |
|
80.1% |
|
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| *There are 51 metropolitan statistical areas (MSAs) in the U.S. with populations exceeding onemillion. |
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| Data source and table: ConstructConnect ‘Insight’. |
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Tags: Alex Carrick, ConstructConnect, Construction industry, Economic, Economist, Growth, house, Housing, market, material, US
Comments Off on Top 25 U.S. Cities for School Construction Starts
Friday, January 25th, 2019
Article source: ConstructConnect
U.S. Census Bureau workers are off the job due to Washington’s partial funding shutdown. As a result, current statistics on housing starts, retail purchases and foreign trade are not available.
This is no minor matter. It will be difficult to accurately calculate national output – i.e., the important gross domestic product (GDP) measure – without reliable data on many of its key components. GDP growth, or lack thereof, is one key determinant of Federal Reserve interest rate moves. The Fed will struggle over whether to be ‘hawkish’, ‘dovish’, or stick with neutral.
Furthermore, the ramifications of economic data omissions are not solely limited to the U.S.
The U.S. and China are engaged in a trade skirmish, with tariffs on Chinese goods entering the U.S. slated to increase to 25% from 10% at the end of March, if there is no resolution. The U.S. has been running a huge trade deficit with China for years. In many months, it has been in a range of 40% to 50% of the total U.S. merchandise trade shortfall with all nations.
(more…)
Tags: Alex Carrick, ConstructConnect, Economics, Economist, Economy, election, employ, employment, Growth, home, house, Housing, job, jobless, Labor, market, material, money, real estate, residential, shutdown, US
Comments Off on Ramifications of U.S. Shutdown Ripple outwards to China and Canada
Friday, January 18th, 2019
Article source: ConstructConnect
Construction spending in various type-of structure categories is driven by economic circumstances within specific industrial subsectors. For example, manufacturers set the pace in industrial construction.
Good health in the leisure and hospitality sector provides the backing for new hotel and motel work. And jobs levels in information and financial services, as well as in more rapidly expanding fields of endeavor such as computer systems and design services, establish the need for additional office space and commercial tower square footage. (See, “Shifts in Office Jobs and Implications for Commercial Tower Construction.”)
This article is the second in a series of seven that examines key industrial sectors to determine where they are most prominent regionally. Rankings of state strength in each industrial subsector are based on both ‘weight’ and ‘concentration’ of relevant employment. ‘Weight’ is simply the number of jobs in the industrial subsector in each state. ‘Concentration’ is each state’s number of jobs in the subsector divided by the state’s population. In effect, it’s a ‘per capita’ figure, except that it’s expressed as number of jobs per million population.
By ‘weight’, the states with the largest populations are almost always high in the rankings. The rankings by ‘concentration’, however, often deliver a jolt of surprise or two.
(more…)
Tags: Alex Carrick, ConstructConnect, Construction industry, Construction services, Economic, Economist, employment, Growth, information sector, market, software
Comments Off on Series (3 of 7): Rankings of States by Industrial Subsector Jobs – Information Services
Wednesday, January 16th, 2019
Article source: ConstructConnect
Construction spending in various type-of structure categories is driven by economic circumstances within specific industrial subsectors. For example, manufacturers set the pace in industrial construction.
Good health in the leisure and hospitality sector provides the backing for new hotel and motel work. And jobs levels in information and financial services, as well as in more rapidly expanding fields of endeavor such as computer systems and design services, establish the need for additional office space and commercial tower square footage. (See, “Shifts in Office Jobs and Implications for Commercial Tower Construction.”)
This article is the second in a series of seven that examines key industrial sectors to determine where they are most prominent regionally. Rankings of state strength in each industrial subsector are based on both ‘weight’ and ‘concentration’ of relevant employment. ‘Weight’ is simply the number of jobs in the industrial subsector in each state. ‘Concentration’ is each state’s number of jobs in the subsector divided by the state’s population. In effect, it’s a ‘per capita’ figure, except that it’s expressed as number of jobs per million population.
(more…)
Tags: Alex Carrick, ConstructConnect, Construction industry, Economic, Economics, Economist, employment, house, Housing, job, jobless, jobs, Labor, market, material, money
Comments Off on Series (2 of 7): Rankings of States by Industrial Subsector Jobs – Financial Services
Thursday, January 10th, 2019
Article source: ConstructConnect
The dollar volume of ConstructConnect’s ‘grand total’ construction starts in full-year 2018 was -5.0% compared with full-year 2017. The percentage change for nonresidential work was -2.0%.
How significant were the largest project initiations in those overall percentage changes? Each month, to update clients on showcase project activity, ConstructConnect publishes a Top 10 groundbreakings list. The summation of the Top 10 projects for every month in 2018 (i.e., 120 projects in total) was $85.4 billion, +1.3% versus 2017’s comparable figure of $84.2 billion.
Many of 2018’s biggest project starts are set out in two accompanying infographics and tables. While there were other type-of-structure categories with multiple extra-large projects last year, six that stood out were: high-tech data and fulfilment centers; hotels and conference centers; bridges; manufacturing and distribution centers; medical facilities; and law enforcement.
(more…)
Tags: Alex Carrick, ConstructConnect, Construction services, Economic, Economics, Economist, Economy, employ, Growth, Housing, job, jobless, Labor, market
Comments Off on U.S. 2018 Large Project Starts by Type of Structure – 2 Infographics
Tuesday, January 8th, 2019
Article source: ConstructConnect
The total number of jobs in the U.S. rose by +312,000 in December, according to the latest Employment Situation report from the Bureau of Labor Statistics (BLS).
There was only one other month in 2018 with a greater surge in jobs creation, February at +324,000.
Optimism over hiring prospects caused the participation rate in December to climb to 63.1% from 62.9% the month previously (i.e., more out-of-work individuals decided to rejoin the labor force). The side effect was that the unemployment rate moved up to 3.9% from 3.7% in November.
The large month-to-month gain in jobs in December understates the overall improvement, since there was also a substantial positive revision to prior data. A month ago, the BLS reported a total jobs level of 149.893 million. It is now saying that November’s figure was really 149.951 million, an increase of +58,000.
Therefore, December’s just-reported level of 150.263 million exceeds November’s first-reported level of 149.893 million by +370,000 jobs.
By industry sector, the largest revisions to November’s jobs statistics came from ‘retail’ (+18,000), ‘government’ (+16,000) and ‘leisure and hospitality’ (+14,000).
(more…)
Tags: Alex Carrick, build, Canada, CMD, ConstructConnect, Construction, Construction services, Economic, Economics, Economist, jobs, Labor, manufacturing, market, money
Comments Off on December Jobs Reports: U.S. Ends 2018 with Bang; Canada with Whimper
Friday, November 2nd, 2018
According to the latest Employment Situation report from the Bureau of Labor Statistics (BLS), the total number of jobs in the U.S. in October rose by 250,000, an outstanding gain.
Because the participation increased slightly, from 62.7% in September to 62.9% in October (i.e., more people re-entered the work force), the unemployment rate stayed the same as the month before, at 3.7%.
What’s important to remember, though, is that a 3.7% American jobless figure is a 50-year low.
According to the latest Labour Force Survey results published by Statistics Canada, total employment north of the border in October bobbed up by a relatively anemic 11,000 jobs.
(more…)
Tags: Alex Carrick, Economic, Economist, Economy, employ, employment, Growth, job, jobs, market
Comments Off on Big October U.S. Jobs Gain Has Fed Interest Rate Implications; Meanwhile, Canada Quiet on the Jobs Front
Thursday, September 13th, 2018
Article source: ConstructConnect
ConstructConnect announced today that August’s volume of construction starts, excluding residential activity, was $33.1 billion − a month-to-month change of -18.9%. The long-term history of the starts data records a ‘normal’ change of -3.5% from July to August, due to seasonality. (Starts are traditionally strongest in Spring and early Summer.)
Compared with August of last year, this year’s latest-month nonresidential starts volume was -9.5%. Relative to the nonresidential five-year average for August, from 2013 through 2017, this year’s latest-month starts volume was +2.7%. Year-to-date nonresidential starts in 2018 compared with the same January-August time frame of 2017 have been -1.9%.
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.
‘Nonresidential building’ plus ‘engineering/civil’ work accounts for a larger share of total construction than residential activity. The former’s combined proportion of total put-in-place construction in the Census Bureau’s July report was 55%; the latter’s share was 45%.
View this information as an infographic.
ConstructConnect’s construction starts are leading indicators for the Census Bureau’s capital investment or put-in-place series. Also, the reporting period for starts (i.e., August 2018) is one month ahead of the reporting period for the investment series (i.e., July 2018.)
The all-jobs increase for the U.S. economy in August was +1.6% year over year, according to the latest Employment Situation report from the Bureau of Labor Statistics (BLS). Hiring by the construction sector has been more robust, +4.3% year over year. The month-to-month nominal jobs increase in construction in August was +23,000, the same as the average monthly gain since the beginning of this year. Construction hiring on average for January-August 2018 is up by one-third versus 2017’s +18,000 monthly average for the first two-thirds of 2017. Construction’s current unemployment rate is 3.4%, the same as in July, but down from 4.7% in August 2017. Construction’s jobless rate is lower than the ‘headline’ figure for the whole economy, 3.9%.
(more…)
Tags: Alex Carrick, build, ConstructConnect, Construction, Construction industry, Construction services, Economic, Economist, Economy, employment, Growth, Housing, market, material, money, oil, real estate
Comments Off on ConstructConnect’s August Nonresidential Starts -19% M/M, But Only -2% YTD
Tuesday, August 21st, 2018
Article source: ConstructConnect
There’s nothing complicated about today’s article. It simply examines, with the aid of the accompanying table, the latest 12-month performances of the share prices of nearly 40 well-known companies.
The 39 firms have been arranged alphabetically according to their primary industrial activity. Not all sectors are represented. One obvious omission is ‘health care’. CVS and Walgreens-Boots under ‘General Retail’ will have to serve as proxies.
But there has been an attempt to capture companies with direct or indirect (i.e., through capital spending on manufacturing facilities, retail space, etc.) ties to construction.
For each company, the two right-hand, percentage-change columns compare the current share price with: (1) the latest 12-month low; and (2) the latest 12-month high.
With respect to 12-month lows, percentage changes that are 50.0% or more have been shaded lightly in gray.
With respect to 12-month highs, percentage changes that are -20.0% or more steeply negative have been shaded in red.
(more…)
Tags: Alex Carrick, ConstructConnect, Construction industry, Economic, Economics, Economist, Economy, Labor, market, oil, US
Comments Off on Equity Price Patterns of 39 Companies with Ties to Construction
Monday, August 13th, 2018
Article source: ConstructConnect
Total employment in Canada recorded the best month-to-month increase so far this year in July, +54,000 jobs, according to the latest Labour Force Survey results published by Statistics Canada.
Prior to July, the best month-to-month improvements in 2018 had occurred in March and June, tied at +32,000 jobs.
The pick-up in hiring in July was entirely in part-time work (+82,000 jobs), as the number of positions classified as full-time suffered a setback (-28,000).
(more…)
Tags: Alex Carrick, Canada, CMD Group, CMDGroup, Construction, Construction industry, Construction services, Economist, Economy, Growth, job, jobless, market
Comments Off on July the Year’s Best Month To-date for Employment Gain in Canada
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