Invest. in Structures Down; Const. Spending Stable
Source: Marcum LLP The Marcum Commercial Construction Index for the first quarter of 2020 reports an industry suffering the adverse effects of COVID-19. Construction employment fell by nearly one million jobs from March to April 2020, a decrease of 12.8 percent. The industry’s unemployment rate increased from 6.9 percent in March to 16.6 percent in April, the highest level since early 2012. The index […]
Nonres. Construction Employment Sees Record Drop
Source: Associated Builders and Contractors The construction industry lost 975,000 jobs on net in April, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. This was the largest recorded decrease in construction jobs since the government began tracking employment in 1939, despite construction remaining an essential industry in much of the nation […]
Ariz. Economy May Expect Solid Recovery
By George W. Hammond for AZ Big Media There is still a huge amount of uncertainty about the future of the outbreak and the economic impacts on the Arizona economy associated with it. Regarding the outbreak, the question at this point is when government and self-imposed social distancing will ease. The April 2020 U.S. forecast from IHS Markit, […]
Construction Employment Dropped in March
Source: Associated Builders and Contractors Construction industry employment declined by 29,000 in March, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. Nonresidential construction employment declined by 24,600 in March. All three nonresidential segments registered job losses, with the largest decrease experienced in nonresidential building (-10,700) followed closely by heavy and civil […]
Cities Brace for Pandemic Impacts
By Jen Fifield for The Arizona Republic Up until this month, many Arizona cities were riding high on good times. Populations were growing, jobs were booming, and cash was flowing in. Cities were preparing to put a bow on the optimistic budgets they had worked on since the fall for the next fiscal year starting in July. Then, […]
Developers Bldg Market-rate Units to Lease for Less
By Joe Bousquin for National Apartment Association HQ Since the end of the Great Recession, the hallmark of this apartment cycle has been luxury units, usually located within the urban core, with a slew of amenities. Of course, those kinds of communities don’t come cheap, to develop or to lease. The $300K per-unit development cost […]