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Construction Economic News

Stay up to date on the latest construction economic news and get in-depth analysis and insights from Chief Economist Alex Carrick and Senior Economist Michael Guckes.

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Megaprojects Slow to Kick In ConstructConnect announced today that March 2022's volume of construction starts, excluding residential work, was $34.4 billion, an increase of +31.8% compared with February’s figure of $26.1 billion (previously reported as $25.7 billion).

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The accompanying table records the top 10 project starts in the U.S. for March 2022.

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Clichés are often true and it is the case that a picture can be worth a thousand words.

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There’s much to cover, so let’s jump right into a discussion of some of the most interesting information to be gleaned from the latest public and private sector data releases.

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Firms that are borrowing on variable-rate credit to purchase inventory should be strategically considering just how much inventory they want to be holding onto should the interest rate on their debts double in the near future.

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Statistics Canada’s Labour Force Survey for March speaks of a +73,000 month-to-month gain in total number of jobs in the land of the red maple leaf.

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The three main U.S. stock market indices turned positive again during March, after dipping and diving through January and February.

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As reported by the Bureau of Labor Statistics in its latest Employment Situation report, the total number of jobs in the United States rose by +431,000 in March. While that’s a wonderfully large number, it should be noted that it’s lower than the gain in any month since September of last year. (The monthly average increase, October 2021 to February 2022, was +633,000 jobs.)

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Presently, there are a lot of negative factors in play. One might easily cite the disturbing psychological and other impacts of the fighting in Ukraine; the ongoing supply shortages that are only slowly being resolved; an affordability crisis, especially for first-time buyers, in residential real estate; general price inflation that shows little sign of letting up; and central bank moves to raise interest rates.

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This article is an exploration of where jobs are sprouting in the U.S. economy versus where they are withering. The analysis is carried forward by means of cluster charts comprised of two graphs each and a text box.

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