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Analyze This, September 2010

Sep 28, 2010 11:55 AM

92%

Percentage of students that graduated from the Construction Careers Center Charter High School in St. Louis, while only 72% graduate from local city schools. Ted Aadland, 2010 president of the Associated General Contractors of America (AGC) and Portland, Ore.-based Aadland Evans Constructors, recently called for greater support of skills-based education such as this, during the launch of a new construction-focused charter school in Albuquerque, N.M. He said student performance is higher at similar construction-focused high schools across the county that the association supports than at nearby public schools.

Source: Associated General Contractors of America

One-Stop Placement: Market Trends, Construction

13

Level of builder confidence in the market for newly built, single-family homes in August. This total is one point less than the previous reading, taking the total to its third consecutive monthly decline and the lowest level since March 2009. According to NAHB Chief Economist David Crowe, this reflects builder frustration toward the effects that foreclosed property sales are having on the new-homes market, with 87% of respondents reporting that their market has been negatively impacted by foreclosures. Nevertheless, NAHB continues to project that modest job gains, historically low mortgage rates, and pent-up demand will ensure a better housing market in the second half of 2010 than in the first half.

Source: National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI)

One-Stop Placement: Market Trends, Construction

1.1%

Percentage increase in the average pay for all employees in the construction industry in the 12 months ending in June, according to recent analysis by AGC of Bureau of Labor Statistics (BLS) data on average hourly earnings (payroll divided by employee hours) in construction. Average pay for all employees in the industry increased 4.0% in 2007, 4.8% in 2008, and 1.9% in 2009.

Source: Bureau of Labor Statistics

One-Stop Placement: Market Trends, Construction

0.3%

Percentage increase in national construction costs in the second quarter, as compared to the first quarter. According to a survey of 13 cities released recently by property and construction consultant Rider Levett Bucknall, most cities reported slight construction price inflation — with Los Angeles and San Francisco representing the greatest quarterly increases by close to 1.0%. Construction costs continued to decline in some markets, including Denver, Las Vegas, Portland, and Seattle, which reported deflation between 0.1% and 0.8%.

Source: Rider Levett Bucknall

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