Author: agcnews

Construction sector employment increased by 8,000 positions in December as the industry’s headcount and wages in 2024 both rose faster than in the broader economy, according to an analysis of new government data the Associated General Contractors of America released today. Association officials noted that most contractors are optimistic about demand for projects and expect to continue adding employees in 2025 according to a new survey the association released this week. “While construction job gains have slowed lately, the industry is still adding workers at a stronger clip than the broader economy,” said Ken Simonson, the association’s chief economist. “Construction…

As widely reported the incoming Trump Administration is planning a number of immigration actions in the early days of the new administration. While many of the most public initiatives will center around using executive power to address border security, it is likely these initiatives will be more restrictive and increase scrutiny on employers leading to increased labor shortages. This week, Congress is considering legislation that will impose stricter measures on undocumented immigrants that commit crimes. Congressional leaders plan to send these strict measures to President Trump after inauguration day and are a sign the new Congress is willing to take…

The end of the year brought about a flurry of legal decisions related to the Corporate Transparency Act (CTA). As a reminder, the CTA is a law passed in 2020 that generally requires legal entities with fewer than 20 employees and $5 million to submit “beneficial ownership information” with an agency called the Financial Crimes Enforcement Network (FinCEN). Beneficial owners are defined as those who exert “substantial control” over the entity, and the required information includes the names, addresses, and a copy of identifying documents (such as a drivers license or passport) of all the beneficial owners. The deadline to file…

The start of the 119th Congress is underway and leadership in both chambers has been set. Speaker of the House Mike Johnson (R-La.) was reelected to lead the lower chamber, while Senator John Thune (R-S.D.) was elected to lead Republicans in the Senate. In the House of Representatives, Republicans will once again hold a narrow majority, and finding agreement among the various factions of the party will make being Speaker of the House the hardest job in Washington. In the Senate, while Republicans hold a 53-47 majority, it is still short of the 60-vote threshold to file cloture. Congressional Republicans…

New Industry Outlook Shows Firms Are Worried About Impacts of President-Elect Trump’s Trade and Immigration Policies Even as They Increase Investments in Artificial Intelligence and Other Technologies to Boost Productivity Construction contractors are optimistic about certain private-sector segments and have high hopes for most types of public-sector work, according to survey results the Associated General Contractors of America and Sage released today. Yet they have very low expectations for several private-sector market segments, remain concerned about labor shortages and are worried materials prices will climb amid threats of new tariffs, according to A Year in the Balance: The 2025 Construction…

The 2025 Construction Industry Business and Hiring Outlook Survey results are IN! AGC of America and our partner Sage will be briefing on all the results LIVE. Join us tomorrow, January 8th, 2025 at 1:00PM EST. You can listen in on Zoom or tune in on Facebook @‌AGCofA.

As contractors gear up for 2025, new tariff policies under President-elect Donald Trump’s administration are poised to bring challenges across the construction sector. From rising material costs to disrupted supply chains and increased contract complexities, the ripple effects of tariffs are unavoidable. To support contractors in mitigating these risks, the Associated General Contractors of America (AGC) is offering two targeted webinars this January, providing comprehensive guidance for both private-sector and federally-assisted construction projects. The Art of Dealing with TariffsDate: Tuesday, January 21, 2025Time: 2:00 PM – 3:00 PM (EST)Cost: $79 Featuring industry experts such as Levi Barrett, Ron Ciotti, Joseph…

With President-elect Donald Trump’s announcement of a 25% tariff on goods from Mexico and Canada, contractors and project owners are bracing for potential ripple effects across the construction industry. From material shortages to skyrocketing costs, the implications of these tariffs could be far-reaching. To help industry professionals prepare, a webinar titled The Art of Dealing with Tariffs will be held on Tuesday, January 21st, 2025, from 2:00 to 3:00 pm EST. Designed for contractors, trade contractors, and owners, this essential session will equip participants with actionable tools and strategies to mitigate the financial and logistical disruptions caused by tariffs. Why…

Construction spending was unchanged from October to November as a continued downturn in multifamily and office building construction offset growing demand for single-family houses and data centers, according to an analysis of a new government report that the Associated General Contractors of America released today. Association officials said that despite the stalled spending levels contractors remain optimistic about 2025, based on a survey the association will release next Wednesday. “Construction activity was closely balanced between segments that expanded or shrank in November,” said Ken Simonson, the association’s chief economist. “But contractors appear to be optimistic about most categories heading into…

Construction employment increased in 234, or 65 percent, of 358 metro areas between November 2023 and November 2024, according to an analysis by the Associated General Contractors of America of new government employment data. Association officials noted that firms continue to boost pay rates as many of them struggle to find enough qualified workers to hire. “Although nearly two-thirds of metro areas have added construction workers in the past year, contractors report struggling to fill many hourly craft positions,” said Ken Simonson, the association’s chief economist. “These difficulties will be even greater in 2025 if the industry cannot access targeted…