Alabama Construction News

JAN-MAR 2018

Alabama Construction News is the states only bimonthly magazine dedicated to the commercial construction industry.

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19 JAN-MAR 2018 AL CONSTRUCTION NEWS Four of the top five states were in the top five in October: Hawaii, Colorado, Idaho and Utah. Hawaii maintained its number-one ranking from October. It was the state's lowest November rate since the beginning of the estimates in 2000. Further, Hawaii had the second largest year-over-year decrease in its rate among the states (down 2.4 percent), behind Alabama's 3.4 percent drop. Note that Hawaii's unemployment rate is a rate for construction, mining and logging combined. The data to estimate a construction unemployment rate alone are not available for either Hawaii or Delaware. Idaho and Utah tied for the second lowest November rate. Idaho held on to its second-place ranking from October, while Utah moved up three spots. This was Idaho's lowest November estimated rate on record. It was Utah's lowest November rate since 2007's 2.2 percent rate. Massachusetts had the fourth lowest November construction unemployment rate, up from 10th lowest rate in October. It was the state's second lowest November rate after 2016's 3 percent rate Colorado had the fifth lowest rate in November, down from third lowest in October. It was the state's lowest estimated November rate since 2005's 3.1 percent and its second lowest November rate on record. Vermont, which tied with Colorado for third lowest in October based on revised data (previously reported as the fourth lowest rate), fell to 16th lowest in November, with a 4.4 percent estimated NSA construction unemployment rate. Iowa and North Dakota experienced significant drops from their tie for fifth lowest unemployment rate in October based on revised data. Iowa fell to the 14th lowest unemployment rate at 4.2 percent, BUILDING ALABAMA | INDUSTRY OUTLOOK & TRENDS *Unemployment Rate is for Construction + Mining + Logging Associated Builders and Contractors, Markstein Advisors November 2017 Estimated NSA State Construction Unemployment Rates 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 0 HI* ID UT MA CO NH NE TX VA SC IN FL GA IA KS VT CA AZ MI OR TN LA NV AL DE* US NC OK SD MN MO KY ME MD MS WI RI NY AR ND OH WA WY NJ PA WV CT IL NM MT AK ABOVE-AVERAGE TEMPERATURES AND BELOW- NORMAL PRECIPITATION IN MUCH OF THE COUNTRY IN NOVEMBER LIKELY HELPED OVERALL CONSTRUCTION ACTIVITY. CONTINUED RECOVER AND REBUILDING EFFORTS FOLLOWING 2017'S HURRICANES, FLOODS AND WILDFIRES HAS ADDED TO DEMAND FOR WORKERS, OFFSETTING SOME OF THE NORMAL SEASONAL DOWNTURN IN CONSTRUCTION EMPLOYMENT. – Bernard M. Markstein, Ph.D., president and chief economist of Markstein Advisors

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