Latest News in Fabrication
December 14, 2009
Construction's unemployment rate continued to rise in November, climbing to 19.4 percent from October's 18.7 percent, while the nation's overall jobless rate declined slightly, the Bureau of Labor Statistics has reported.Job creation has become a prime topic in Washington, as congressional Democrats work on new measures aimed at bringing more people back to work. Infrastructure spending is ...
December 11, 2009
The good news about the world economic recovery is coming fast and furious. Chinese industrial production is growing at an amazing rate; U.S. retail sales are almost back to levels of a year ago; and home prices in Canada, for both new and existing properties, are on an upswing.
December 7, 2009
Despite a slowing in the number of construction workers losing jobs in November, 19.4 percent of the nation's construction workers are now unemployed according to new federal figures released today. The figures show that unemployment rates within the construction industry remain significantly higher than any other sector of the economy, the Associated General Contractors of America said."The ...
November 13, 2009
Pointing to a complete lack of available financing and new projects going into the pipeline, Peter Linneman, consultant and professor, Wharton School of Business, said supply and demand fundamentals for the commercial construction market will remain weak through 2013, during a keynote session at the 2009 Building and Infrastructure Conference hosted by Lincoln International and L.E.K. Consulting, ...
October 26, 2009
“Reports from the 12 Federal Reserve Districts indicated either stabilization or modest improvements in many sectors since the last report, albeit often from depressed levels,” the Fed reported on Wednesday [Oct. 21] in the Beige Book (so named for the color of its cover), a summary of informal soundings of business conditions conducted in each district fromlate August to Oct. 12. ...
October 19, 2009
"The level of construction starts in 2010 is expected to climb 11 percent," McGraw-Hill Construction forecasted on Friday [Oct. 16], "following the 25 percent decline predicted for 2009. 'The U.S. construction market in 2010 will be helped by growth for several sectors, following three straight years of decline that brought total construction activity down 39 percent from its ...
October 19, 2009
This is a record year for Trainor Glass Co., but next year won't be.Or the year after.Or, God forbid, maybe even the year after that."Our company is preparing as if this is it for a while," said Bob Trainor, chief executive of the family-run glazing contractor based in Alsip [Ill.]. "People aren't spending money."It's reality check time.The Dow Jones industrial average did ...
October 16, 2009
McGraw-Hill Construction, part of The McGraw-Hill Cos., today released its 2010 Construction Outlook, a mainstay of business planning for construction and manufacturing executives, which forecasts an increase in overall U.S. construction starts for next year, according to an Oct. 16 release. Due to improvement for housing from extremely low levels and broader expansion for public works, the level ...
September 9, 2009
Nonfarm payroll employment fell by 216,000 and the unemployment rate climbed to 9.7 percent in August, seasonally adjusted (9.6 percent, not seasonally adjusted), the Bureau of Labor Statistics reported on Friday [Sept. 4]. The job drop overall was the smallest in a year, but construction employment fell 65,000, close to the average for the past three months. That decline accounted for 30 ...
August 27, 2009
Few states were immune from construction employment declines this July based on an analysis of federal employment data released today by the Associated General Contractors of America. That analysis found that 47 states saw declines in construction employment, while only two states saw increases and one saw no change in construction employment between July 2008 and July 2009."There aren't a ...
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