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The national construction unemployment rate dropped to 5 percent in November 2017, according to Associated Builders and Contractors (ABC).
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2018 State of the Construction Industry
What’s happening in the neighborhood?
New year, same challenges. With steady gains over the last several years and a healthy market, the construction industry looks optimistic for 2018. However, United States general contractors are looking to play it safe for now. Trump, technology and the labor crisis all continue to be factors that could influence the industry both positively and negatively. The promise of an infrastructure bill in 2018 has contractors in the public sector hopeful for new projects and the money to build them. Budget requests were recently announced for President Trump’s border wall (more below). The Associated General Contractors’ Ken Simonson forecasted an increase of 2 to 7 percent in construction spending for 2018. Dodge Data & Analytics’ 2018 Construction Report predicts construction starts to rise 3 percent to a total of $765 billion this year. Among other highlights, the report also estimated the following:
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Multifamily housing will decrease 8 percent in dollars after peaking in 2016. |
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Commercial building will increase 2 percent, after a 3 percent gain in 2017. |
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Public works building will increase 3 percent. This includes highway and bridge projects necessitated by the FAST Act. |
Tech continues to be a benchmark for competition in the construction industry—early adopters find themselves ahead of the crowd when it comes to winning projects and streamlining processes. The skilled labor shortage shows no signs of lessening, either. However, private companies and industry organizations alike are launching programs to combat the shortage. One such initiative is Go Build America, which unveiled a project in December 2017 that provides companies with outreach strategies and tools to help them connect with potential future skilled workers.
Why do you care?
If you work in the construction industry, you’ve probably already got an eye on all of the above. You’re probably also beginning the task of sifting through the recently passed tax reform bill. Tune in to theHuddle next week for a quick rundown of what it might mean for your construction business.
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Shuster’s Out
He’s done playing the long game, apparently. Representative Bill Shuster, chairman of the House Transportation and Infrastructure Committee, announced last week that he will retire at the end of his term. The Republican representative has held the Pennsylvania congressional seat since 2001. His father preceded him, taking the seat in 1973. Told ya; long game. Shuster was quoted saying he plans to spend his last year in office finishing a much-needed infrastructure bill. He is among four Republican representatives who have all announced plans to retire at the end of the year.
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Update on the Border Wall
The total cost of the border wall dividing Mexico from the United States is estimated to amount to $18 billion. According to an original report from The Wall Street Journal, the money would be used to build 700 miles of new replacement barriers, bringing the total length of the wall to nearly 1,000 miles. The budget announcement comes after President Trump tweeted in late December that funding for the Deferred Action for Childhood Arrivals (DACA), or “Dreamers,” program is dependent on a compromise being reached to fund the border wall. At Camp David, Trump told Republican leaders that he wants the program to remain, but Democrats will have to work with the administration to figure out funding for the wall.
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Sponsored by GPS Insight
What Challenges Will GPS Tracking Solve for Your Business?
If you’re a contractor managing multiple jobsites, the last thing you want to be worried about is where your equipment is at any given time. At GPS Insight, knowledgeable team members help you solve your fleet tracking challenges by providing the information you need and assembling a team to help deliver your goals. Construction businesses with vehicles and mobile assets typically come to GPS Insight with one of three issues:
1. They don’t know where or how their vehicles and equipment are being driven or used.
2. They are concerned with driver and public safety.
3. They have inefficient processes that waste valuable time and money.
If overcoming your organization’s unique challenges is important to you, continue researching how GPS Insight can help solve the issues your business is facing.
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New Rule Stands for Silica Dust Exposure
Case dismissed. The new standard for silica dust exposure, which went into effect in September 2017 after several delays, was dismissed of all industry legal challenges in late December. Implemented by the Occupational Health and Safety Administration earlier this year, the standard lowers the permissible worker exposure to 50 micrograms per cubic meter of air over an average of 8 hours. The previous standard limited a worker to 250 micrograms per cubic meter of air over 8 hours. Why it matters to you: as of late October 2017, you can now be fined $12,675 for a serious or other-than-serious violation; $12,675 per day past the abatement date for a failure-to-abate violation and $126,749 for a repeated or willful violation of the standard.
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Got 99 Problems & the Bomb Cyclone Is Definitely One
Last week’s weather patterns have done a number on the U.S. from North to South. The cyclone’s freezing temperatures and heavy winds are shedding light on one problem specific to the construction industry: in regions where this kind of weather isn’t the norm, particularly in the Southeast, many people are finding their heating units aren’t built to heat homes in subfreezing temperatures, and local infrastructures are not built to withstand the ice and snow. While it’s leaving a lot of city and local governments with issues, it could be beneficial to future planning, and play a role in the infrastructure bill set to come to fruition this year. Historic flooding from winter storms in Massachusetts has already set in motion new plans to reinforce structures for future severe weather events.
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Sponsored by Minnich Manufacturing
How to Choose the Right Dowel Pin Drill
Every dowel pin drill has a different application, and no two jobsites are alike. You know that understanding which drill is right for your job is crucial. Whether you are repairing a city street, performing full-depth repair on an Interstate highway or paving a new airport runway, the project can drastically affect which drill is the right choice. Fortunately, Minnich has the answers you need. Learn which drill is right for your application in this blog series, all about dowel drilling machines.
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