This webinar provides a detailed look at recent trends and outlook for construction spending, materials costs, and employment, nationally and by state. Rather than treating construction as a single industry or a simple split between residential and nonresidential, the webinar delves into the sharply differing trends and future drivers for single- and multifamily residential construction, 10 categories of private nonresidential construction, and the leading public categories-highway & street and educational, both K-12 and higher.
The recent strong growth in construction employment and sharp drop in unemployment are examined, along with evidence of current and likely shortages of skilled labor in different occupations. National employment data are disaggregated to show which states are experiencing the strongest growth and which are lagging. Evidence is provided on how the pricing of new construction projects compares with changes in labor and materials costs, along with an examination of costs for specific inputs.
Why should you Attend:
Construction activity has been heating up for the past several months, as measured by increases in spending and employment that outpace the overall economy. Unemployment rates for experienced construction workers have plummeted from over 20% to 7-8%. But many of those workers have gone to other industries, retired or left the workforce. As a result, reports of skilled labor and supervisor shortages are spreading. In addition, there are growing indications that prices for some materials may soon accelerate. These developments could push subcontractors out of business, delay project completions, and make some projects unviable. The information presented in this webinar will be invaluable to anyone involved with investing, budgeting, forecasting, market research, or directly with construction.
Areas Covered in the Session:
- Recent construction spending trends by structure type
- Economic developments that will drive or retard construction segments in the next 3 years
- Growth in construction employment and drop in unemployment-implications for skilled-worker shortages
- Variation among states in employment growth and degree of recovery
- Trends for construction pricing, materials costs, and wages
- Outlook for specific materials
- Overview of outlook for key spending categories, materials, and labor
Speakers
Kenneth D. Simonson is widely recognized as one of the nation’s leading economists focusing on construction. He has been chief economist for the Associated General Contractors of America, the top national construction trade association, for 13 years. He is consulted and quoted daily by money managers, industry participants, government officials, academics and media. He served as 2012-2013 president of the National Association for Business Economics, the professional organization for people who use economic information in their work. He is a member of the Census Scientific Advisory Committee, the Bureau of Labor Statistics’ Data Users Advisory Committee, and numerous professional and business organizations.
Who Should Attend
- Investors/fund managers interested in construction contractors, equipment, materials and professional service companies
- Owners/investors in commercial structures
- Government budget officials and construction or real property managers
- Economists forecasters and analysts; market researchers
