The construction industry lost 11,000 jobs on net in December, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics data. On a year-over-year basis, industry employment grew by 14,000 jobs, an increase of 0.2%.

As we begin the new year, we are ready to start a new chapter. But at the same time, we need to remain informed and maintain focus on ongoing challenges. Among the most recent are that President Biden’s project labor agreement (PLA) mandate is still in place at the federal level and Gov. Healey has issued an executive order directing state agencies to consider PLAs, rigid state construction ratios impede hiring, and signs point to a slowing economy.  In uncertain times like these, it’s more important than ever to be part of a strong community that understands and is unified in supporting you.

The construction industry added 19,000 jobs on net in September, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics data. On a year-over-year basis, industry employment has grown by 38,000 jobs, an increase of 0.5%.

Construction input prices increased 0.2% in September compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices also increased 0.2% for the month.

Construction projects often involve work performed by subcontractors. While this makes sense given the varying expertise and equipment required, it can create some difficult issues from an insurance perspective if things go awry.

National nonresidential construction spending decreased 0.2% in August, according to an Associated Builders and Contractors analysis U.S. Census Bureau data. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.24 trillion.

Economic cycles come and go, but the long-term outlook is clear: we need to continue to expose and recruit more people into the trades. The Gould Construction Institute hosted “Trade or Treat” on October 30th at its new Billerica facility.  The event was another creative opportunity to open minds via an open house that provided high school students with an opportunity to understand the career paths available in Electrical, Carpentry, HVAC and more – all while taking part in construction-oriented quizzes, demonstrations, raffles, and giveaways, and enjoying a bit of candy!  Attendees got to meet instructors and trade professionals while touring the facility and discovering how a career in trades can be both rewarding and fun.

Associated Builders and Contractors reported that its Construction Backlog Indicator fell to 8.4 months in October, according to an ABC member survey conducted Oct. 20 to Nov. 4. The reading is down 0.1 months since September but unchanged from October 2024.

A purpose-built back-office platform, Trayd is engineered from the ground up for the realities of the trades, including multi-state tax rules, prevailing wage requirements, complex pay rates, certified payroll, and union agreements.

Even in a slowing economy, few challenges are more pressing than finding the qualified workers your company needs to succeed. According to our national parent organization, the construction industry will require 439,000 additional workers this year and another 499,000 in 2026 to meet demand. As experienced workers retire, there simply aren’t enough younger workers to replace them—let alone fill new positions. This shortage persists even though construction is one of the few industries that offers family-sustaining wages without the burden of a college degree and student debt.