Nonresidential Construction Spending Ticks Up in September - Modern Distribution Management

Log In

Nonresidential Construction Spending Ticks Up in September

The construction industry had 422,000 job openings in September, according to an Associated Builders and Contractors’ analysis.
Silhouette of engineer and construction team working at site over blurred background for industry background with Light fair.Create from multiple reference images together
Author
Date

Nonresidential construction spending rose 0.5% in September, according to an Associated Builders and Contractors analysis of data published  by the U.S. Census Bureau on Nov. 1.

On a seasonally adjusted annualized basis, nonresidential spending totaled $883.9 billion for the month, according to the analysis. On a monthly basis in 11 of the 16 nonresidential subcategories, spending dropped. Private nonresidential spending was up 1.0%, and public nonresidential construction spending was down 0.3% in September, ABC said.

“The disconnect between contractor confidence, which remains elevated according to ABC’s Construction Confidence Index, and nonresidential construction spending continues,” said ABC Chief Economist Anirban Basu. “While nonresidential construction spending is below February 2020 levels, many contractors report operating at capacity. This has much to do with worker and equipment shortages.”

The U.S. construction also industry had 422,000 job openings in September, according to a ABC’s analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS). The survey defines a job opening as “any unfilled position for which an employer is actively recruiting.”

ABC said industry job openings increased by 36,000 last month and are up 74,000 from the same period in 2021.

“Construction workers quit their jobs at a lower rate than they were laid off or discharged for the first time since February 2021,” the analysis states.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.