After a notable spike in February, construction costs continued to climb in March following price increases for a range of building materials, according to an analysis released by the Associated General Constructors (AGC) of America’s labor department.
The construction industry experienced a surge in costs last month, which was largely driven by price increases for a wide range of building materials, according to data from the Associated General Contractors of America’s (AGC’s) labor department. Association officials caution that the Trump administration’s newly-imposed tariffs on metal imports, such as steel and aluminum, will continue to affect project budgets.
A recent analysis by the Associated General Contractors of America (AGC) suggests public-sector investments in infrastructure are declining, despite the year’s generally strong growth in multi-family and private non-residential spending categories.
Construction employment was uninterrupted from May to June, but an increase in hourly pay and longer weeks, along with shrinking numbers of unemployed construction workers, suggest contractors would hire more people if they were available.
An Associated General Contractors (AGC) of America analysis found that despite high construction demand, hiring has continuously slowed in 2015 as unemployment reached a new low. Construction employment totaled 6,396,000 in September—the most since February 2009—but the total only rose by 8000.