National nonresidential construction spending decreased 0.2% in May 2023. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.06 trillion for the month.
The construction industry has seen a significant increase in the adoption of new technologies, and there’s one powerful, but often-overlooked secret ingredient to unlocking a construction project's full potential and maximizing return on investment: the training that happens after new technology adoption.
The national construction industry added 25,000 jobs on net in May, according to data released today by the US Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 192,000 jobs, an increase of 2.5%.
National nonresidential construction spending increased 1.9% in April 2023. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.05 trillion for the month.
For construction project delivery teams, the critical path schedule is both the map and the compass. It sets out the myriad of complex relationships that intertwine timelines, activities, and resources. It establishes the path to deliver the project on time and within budget.
Accurate, real-time cost tracking of capital projects may be understood and valued in theory. But, as we’ve seen with the slow technology adoption in the industry, that doesn’t necessarily translate into putting it into practice. When project costs aren’t closely managed, they’re more likely to spiral out of control and put projects squarely among scores of others like them: over budget and behind schedule.
Organizations face increasing challenges today due to rapidly changing customer demands, market conditions, and technological advancements. Making informed decisions quickly and accurately is critical to staying ahead of the competition. Artificial Intelligence (AI) is a powerful tool that can help organizations make more intelligent decisions by leveraging data-driven insights and automation capabilities.
"Michael and Matthew have exceeded my needs and expectations. I get help same day 95% of the time, which is very important in my business at times. They are professional and courteous 100% of the time. Zero complaints."
Mitchell Brothers
"He did a great job online and an equally great job in person. We’re enjoying working with our new Spectrum Viewpoint accounting software."
Chambliss & Rabil Contractors, Inc.
"Kristen is a very valuable resource for us!"
LCI-Lineberger Construction Inc.
"Greg is terrific, and I’m so excited to have a better resource! I have him working on several projects now with many more to come."
Progressive Plumbing
"I want to let you know how grateful we are for Robert Pacheco’s assistance. He was able to meet with me and discuss the issue promptly and complete the fix within a short amount of time. He is surely an asset, and we are thankful to have such a great resource."
Marques General Engineering, Inc.
"Thank you for your assistance/responsiveness to assist us in getting P6 back online so quickly today. We appreciate all the support you provide."
M.J. (Manufacturing Firm)
"The level of service CDP provides is exceptional and always far exceeded my expectations. You can quote me on that!"
The Wesson Group LLC
"Beth is absolutely wonderful to work with! I appreciate her patience and professionalism. It’s a relief to know I can count on her to respond and be a life line for us as we continue to learn the system. She is truly top notch."
Eastbound Mechanical
"It’s a pleasure working with Robert. He's very patient, knowledgeable and goes far beyond to help with any issues we have as a company or as an individual."
HL Contractors
"I wanted to let you know Dan did a great job. He has a vast amount of knowledge, and I feel very fortunate to be working with him."
H.F. (Mechanical Contractor)
"We appreciate Tim and all of his excellent support."