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Construction Economics Highlights
Employment, Small Business Optimism, and More

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Construction employment added 6,000 jobs in July, to mark an increase of 2.8 percent over 12 months.


Construction Employment Increases Hit Nine-Year High
Construction employment added 6,000 jobs in July, to mark an increase of 2.8 percent over 12 months. At the same time, average hourly earnings in the industry came in at $28.90, nearly 10 percent more per hour than the average U.S. private-sector job.

Small Businesses Stay Optimistic - Index Up 1.6 Points
In spite of stalled legislative reform and other entanglements in Washington, D.C., the small businesses optimism index recorded its biggest month-to-month gain since the November elections. The largest gains of the 10 indicators measured came from the amount of firms with job openings, and those expecting higher sales. In addition, 19 percent of firms plan to hire - the highest level since December 1999.

Dodge Momentum Index Is Down a Little but Still Higher than a Year Ago
The index, a monthly measure of initial planning reports for nonresidential building projects, dropped 3.3 percent from its June reading; however it is 6.9 percent higher year-over-year, which "suggests further moderate gains in construction activity throughout the year," according to Dodge Data and Analytics. The commercial component is up 8.0 percent from last year, and the institutional component grew 5.3 percent.







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November 13, 2018, 10:56 am PST

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