Dive Summary:
- Data released by the Associated General Contractors of America shows that although certain areas are growing, other segments in construction are slowing due to reduced funding for projects, high residential and commercial material costs and uncertainty in the private sector.
- The biggest gains were in multifamily new construction and power construction. The power industry grew by 10.8% in April, helped in part to oil and gas, including pipeline activity and renewable power.
- Construction figures indicate that skills based programs are still needed to produce workers that have the appropriate skills necessary for jobs in the construction field.
From the article:
"Total construction spending registered a small gain in April but showed very mixed patterns among major segments, according to an analysis of new Census Bureau data..."
"The report underscores patterns that have prevailed for several months: surging home and apartment construction, volatile private nonresidential activity and shrinking public investment," says Ken Simonson, the association's chief economist."
