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ADP: 298,000 JOBS ADDED IN FEBRUARY; 66,000 IN CONSTRUCTION

The U.S. economy added 298,000 private, non-farm jobs in February, according to the monthly employment report released this morning by payroll-management firm ADP and its partner Moody's Analytics. The seasonally adjusted result is a 14% increase from January's upwardly revised 261,000 jobs, and 16% higher than the previous February, when 255,000 jobs were created.

Read full post  |  Posted by on 03.08.17


BUILDER 100 DEADLINE EXTENDED TO FEB. 15

he BUILDER 100/Next 100 is the housing industry's premier list of the largest U.S. home builders. Published by Hanley Wood since 1984, inclusion on the list is highly regarded throughout the industry.

Read full post  |  Posted by on 02.09.17


2017 Section 179 Deduction

In 2017, businesses can expense up to $510,000 of qualified new or used business equipment purchases, with a $2,030,000 annual purchase limit. In addition, new equipment purchased in 2017 may qualify for 50% bonus depreciation. This rate drops to 40% in 2018, so plan your purchasing accordingly.

Read full post  |  Posted by R. David O’Brien on 02.02.17


It’s Builder 100 Time: Don’t Miss Out!

The BUILDER 100/Next 100 is the housing industry's premier list of the largest U.S. home builders. Published by Hanley Wood since 1984, inclusion on the list is highly regarded throughout the industry.

Read full post  |  Posted by on 01.26.17


NATIONAL OUTLOOK - January 2017

Data on the full year of construction will not be available until February but it’s apparent from what we know of the first 11 months that some trends have slowed or reversed in 2016 and among economists, there are the first signs of recession on the horizon for 2018.

Read full post  |  Posted by on 01.26.17


WHATS IT COST – January 2017

Five years of steady expansion for the construction industry have yielded a labor market and supply and demand for building products that are pushing inflation higher. That’s the conclusion that can be drawn by the recent months’ readings on producer prices and completed costs of construction.

Read full post  |  Posted by on 01.26.17


CONSUMERS AND BUILDERS ARE TRENDING TOWARDS OPEN FLOOR PLANS

In a survey conducted by the NAHB in 2015, 70% of recent and prospective home buyers preferred a completely or partially open kitchen-family room, with 32% preferring a completely open arrangement. In 2016, when a similar question was asked on the NAHB/Wells Fargo Housing Market Index survey, 84% of builders said that, in their new single-family homes, their kitchen-family room is completely or partially open, with 54% saying their arrangements are completely open.

Read full post  |  Posted by on 01.19.17


Keep Up With Wage Laws

While the new federal overtime rules that were scheduled to take effect in 2016 have been put on hold, perhaps permanently, other wage laws are still around, including those that establish minimum pay levels.

Read full post  |  Posted by R. David O’Brien on 01.11.17


WHATS IT COST

Data on prices has begun to show some consistent lift as the third quarter ended. Demand for construction nationally is pinching labor supply and is giving manufacturers the confidence to test the market with price increases. Consumer prices are nudging above the one percent level and wages are consistently up 2.5 percent or more year-over-year. Yet for all the talk of inflation beginning to trend towards “normal” levels, an examination of year-over-year changes in September shows that prices are more stable overall than in a number of years.

Since 2008, there have been two major swings in the price of oil and energy that have induced big deltas in the prices of oil-related or energy-intensive materials. October marked two full years since the collapse of the oil price and the impact is noticeable in the lack of a severe outlier among the basic materials and products. Even after an apparent agreement by OPEC producers is factored in, the price associate with oil should not swing the cost of construction materials dramatically.

Read full post  |  Posted by on 12.13.16


NATIONAL OUTLOOK

Economic data from August and September painted a picture of a U.S. economy that remains stuck in a slow-growth cycle, but which is strong relative to its primary global partners. Job creation remains solid given the duration of the business cycle; and related data on wage growth and household incomes suggest that U.S. consumers have less to be concerned about today than even two years ago. Activity by business continues to weaken – albeit slightly – as a strong U.S. dollar, political uncertainty and weak global demand are sources of worry.

Labor markets remain the best source of optimism about the economy. Employment grew by 156,000 jobs in September, according to the October 7 report from the Bureau of Labor Statistics. After revisions were made to July and August job creation estimates, the September data meant that the monthly job additions during the third quarter averaged 191,000 – higher than the average of 171,000 for the full year to date.

As important as the jobs gained were the increase in average workers wages, which were up 2.6 percent year-over-year. Labor force participation also improved, with 444,000 more people entering the workforce. The average hours worked also jumped during the quarter. The September report showed a continuation of the upward trend in professional services and healthcare jobs, a possible end to the extended job losses in energy and further declines in manufacturing employment.

Read full post  |  Posted by on 12.13.16


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