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From the category archives: Economics

Rep. Foxx Reintroduces Highway Trust Fund Reform Act With Davis-Bacon Exemption

ABC supports the Highway Trust Fund Reform Act of 2019 (H.R. 3904), legislation introduced on July 24 by Rep. Virginia Foxx (R-N.C.) that would exempt federally funded or federally assisted Highway Trust Fund projects from federal Davis-Bacon requirements, known as prevailing wage. The Congressional Budget Office estimates that repealing Davis-Bacon would save the Federal Highway Administration more than $700 million a year.

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The Construction Industry Needs to Hire an Additional 440,000 Workers in 2019

The Construction Industry Needs to Hire an Additional 440,000 Workers in 2019  Read the rest of entry »

ABC Supports Bill to Establish New Construction Visa Program

ABC sent a letter of support to Congress urging passage of the Workforce for an Expanding Economy Act (H.R. 1740) introduced by Rep. Lloyd Smucker (R-Pa.). The bill would create a new visa program for non-farm, temporary foreign workers and includes important protections for employers and employees, ensuring that jobs remain available for hardworking Americans. Read the rest of entry »

House Passes ABC-opposed Campaign Finance Messaging Legislation

On March 8, H.R. 1, the For the People Act, passed the Democratic-controlled U.S. House of Representatives by a party line vote of 234-193. ABC sent a letter in opposition to the legislation, arguing that it is an attack on free speech and would cripple the business structure of nonprofit associations such as ABC.  Read the rest of entry »

ABC-supported Nominee Confirmed as Administrator of EPA

On Feb. 28, the U.S. Senate voted to confirm Andrew Wheeler as administrator of the U.S. Environmental Protection Agency by a vote of 52 to 47. ABC sent a letter to senators in support of Wheeler’s confirmation based on his work as the acting administrator of the EPA to promote an effective environmental permitting process for construction projects, his proposal of a new Waters of the United States rule and his efforts to repeal and replace the Obama administration’s Clean Power Plan with the Affordable Clean Energy Plan. Read the rest of entry »

Contractors Lose Confidence in Q3 but Remain Upbeat

While construction industry leaders remained confident in the third quarter of 2018, optimism slipped relative to the second quarter, according to the latest Construction Confidence Index released by ABC. Approximately three in four construction firms expect that sales will continue to rise over the next six months and closer to one in 10 expect sales to decline over the next two quarters. Read the rest of entry »

ABC’s Construction Backlog Indicator Sinks Below Record Highs in Q3 2018

ABC reports that its Construction Backlog Indicator contracted to 9.04 months during the third quarter of 2018, down 8.4 percent from the second quarter and 4.3 percent lower than the same time last year. “Construction backlog reached its highest level ever during the second quarter,” said ABC Chief Economist Anirban Basu. Read the rest of entry »

Price of Construction Materials Declines in November; ABC Predicts Moderate Increases in Early 2019

Construction materials prices fell 1.8 percent in November, according to ABC's analysis of U.S. Bureau of Labor Statistics data. Despite the monthly decline, materials prices are still 5.3 percent higher than they were on a year-over-year basis. Read the rest of entry »

Nonresidential Construction Employment Slows Down in November

Construction employment expanded by 5,000 net new jobs in November, according to an analysis of U.S. Bureau of Labor Statistics data conducted by ABC. During the past 12 months, the industry has added 282,000 net new construction jobs, which translates into a 4 percent increase in total industry-wide employment. Read the rest of entry »

ABC Predicts Construction Sector Will Remain Strong in 2019

ABC Chief Economist Anirban Basu forecasts another strong year for construction sector performance, yet warns about inflationary pressures, according to a 2019 economic outlook published in Construction Executive magazine. Read the rest of entry »
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