Source: Associated Builders and Contractors, Washington, D.C.
ABC Chief Economist Anirban Basu forecasts continued momentum for construction next year, mindful that a “heightened level of uncertainty could induce many economic actors to adopt a wait-and-see attitude, further reducing economic activity in the context of an already rapidly softening global economic environment.”
Source: Associated Builders & Contractors, Washington, D.C.
An Associated Builders and Contractors analysis of new U.S. Bureau of Labor Statistics data indicates construction employment increased 280,000 in 2018, a 4.0 percent gain over the prior-year level. The analysis also showed industry unemployment rising to 5.1 percent during December, due to a meaningful increase in labor force participation, yet remained 0.8 percent lower than at the same time in 2017.