Economy
AGC: Construction Jobs Rise but Many Openings Remain
Written by Becca Moczygemba
August 31, 2023
Construction jobs may have increased year over year in July, but many positions remain unfilled.
According to a report released by the Associated General Contractors of America (AGC), construction employment was boosted in 226 of 358 metro areas between July 2022 and July 2023. The association said there is still demand for various types of construction, but hundreds of thousands of vacant positions remain.
“Demand for construction projects remains strong nationwide and most metros have continued to add construction jobs in the past year,” said AGC’s chief economist Ken Simonson. “But there were 378,000 unfilled job openings in construction at the end of July, which suggests that even more markets would have posted year-over-year employment increases if there were enough qualified workers to fill the openings.”
The Dallas-Plano-Irving area added the most jobs with 18,100, followed by New York City with 13,400. The least amount of jobs added were in Corvallis, Ore., at just 200.
Decreases were seen, with the largest number lost in the Miami-Miami Beach-Kendall, Fla., area, which lost 4,100 jobs.
“We want to understand why firms are having trouble finding qualified workers and the consequences of those shortages,” said the association’s CEO Stephen E. Sandherr.
New workforce data will be released on Sept. 6 as part of the AGC’s and Autodesk’s annual Construction Workforce Survey. Sandherr said the information is “designed to help policy makers and the industry identify steps they can take to prepare, recruit and retain more qualified workers.”
Becca Moczygemba
Read more from Becca MoczygembaLatest in Economy
Price: New administration sets roadmap for trade, manufacturing
Day One of the second Trump administration did not bring tariffs, but it did signal that tariffs, and other major trade actions, are not far off.
Architecture firm billings fell in December on market uncertainty
Architecture firms reported a sharp reduction in billings in December, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.
Fed indicators show continued stability in manufacturing
Recent Federal Reserve data indicates that the US manufacturing sector remains healthy and stable. The strength of the manufacturing economy has a direct relationship to the health of the steel industry.
January energy market update
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels. Trends in energy prices and active rig counts are leading demand indicators for oil country tubular goods (OCTG), line pipe and other steel products.
New York state manufacturing fell in January
“Price increases, while subdued, picked up,” Richard Deitz, Economic Research Advisor at the New York Fed. “Firms grew more optimistic that conditions would improve in the months ahead.”