According to data released Friday by the US Bureau of Labor Statistics, the national construction industry added 13,000 net new jobs in June. This follows a 21,000 net new job gain in April, and 25,000 in May.
Nonresidential construction spending inched 0.1 percent higher on a monthly basis in May, according to an Associated Builders and Contractors analysis of U.S. Census Bureau data released today. Spending, which totaled $749 billion on a seasonally adjusted annual rate for the month, is up 3 percent from the same time last year.
More and more, contractors are facing increasingly complex projects and financials. It’s time for contractors to embrace and prepare for new GAAP revenue recognition standards developed by FASB. The new standards promise quicker payments and better cash flow—but only if contractors have the proper framework in place to capture and properly communicate the critical data.
Across many industries in the U.S., there is a decline in educated, skilled and experienced personnel as the largest generation in history moves out of the workforce and into retirement. As a result, it’s become a war for talent, and construction companies are on the front line.
President Trump’s decision to impose tough tariffs on steel and aluminum imports from Canada, Mexico and the European Union quickly sparked retaliatory measures and is expected to lead to cost increases for U.S. construction contractors and for makers of construction equipment.
According to data released Friday by the US Bureau of Labor Statistics, the national construction industry added 25,000 net new jobs in May. This follows a 21,000 net new job gain in April.
"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
"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)
"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)
"Jim is doing great. He has already saved Kelli an average of 9 hours per month. I know he working on, and getting really close, to saving Trey at least 20 hours per month."
R.F. - Construction Management Firm
"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
"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.
"We appreciate Tim and all of his excellent support."
M.J. (Manufacturing Firm)
"The best part was watching folks react to the info Greg shared. We had great feedback, big smiles all around, and folks excited about newfound streamlined ways to make their work easier. We know Greg's schedule is in demand, and appreciate the time he shared with us."
S.D. (Industrial Construction)
"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.
"Kristen is a very valuable resource for us!"
LCI-Lineberger Construction Inc.
"The level of service CDP provides is exceptional and always far exceeded my expectations. You can quote me on that!"
The Wesson Group LLC
"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
"Jim is doing amazing work. He is highly responsive and quick to turn around a quality product. He has saved us countless hours already in the things he has automated."
T. E - Construction Management Firm
"I just wanted to commend Robert’s continued support since our go-live. Whether it be implementation or ad hoc questions, he has gone above and beyond."
Daniel C. - FMT Shipyard and Repair
"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."
