The national construction industry added 28,300 jobs on net in August, according to data released today by the US Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 228,000 jobs, or an increase of 2.8%.

National nonresidential construction spending decreased 0.2% in July. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.21 trillion for the month.

The construction industry faces a severe labor shortage, impacting everything from project timelines to profitability. Understanding how to navigate this complex landscape can make a substantial difference for companies striving to thrive.

Construction companies are using digital technology to make use of newly available standardized data from across the organization — especially the finance, operations, HR and staffing, and IT departments. When real-time data technology connects these different functions, contractors can make smart use of resources, move faster and maintain better profit margins.

National nonresidential construction spending increased 0.2% in June. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.2 trillion for the month.

The national construction industry added 25,000 jobs on net in July, according to data released today by the US Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 239,000 jobs, or an increase of 3%.

Effective job costing compares what has been budgeted for your project in the estimating processes with actual costs as they occur on the project. From materials to equipment to subcontracts and vendors to the largest expense on most construction projects — labor, contractors typically track jobs costs by phase codes or cost codes. If you’re a heavy highway or civil contractor that deals with significant amounts of materials, you may use unit-based job costing or time and materials billing methods to measure your project’s actual versus estimated costs.

The second half of 2024 is likely to present the same problems to the construction industry—supply-chain issues, labor shortages and more—but you can approach them with different solutions.

The national construction industry added 27,000 jobs on net in June, according to data released today by the US Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 235,000 jobs, or an increase of 2.9%.

National nonresidential construction spending increased 0.1% in May. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.2 trillion for the month.