Estimated January not seasonally adjusted construction unemployment rates fell nationally and in 44 states, rose in four states and were unchanged in two states (Maine and North Carolina) on a year-over-year basis, according to an analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. As of January 2020, the construction…
Yesterday, the U.S. Department of Labor’s Wage and Hour Division (WHD) announced its first round of published guidance to provide information to employees and employers about how each will be able to take advantage of the protections and relief offered by the Families First Coronavirus Response Act (FFCRA) when it takes effect on April 1,…
Request for assistance sent to Capitol Hill on behalf of ARA members The American Rental Association (ARA) is taking steps to seek federal support and funding to aid businesses in the equipment and event rental industry. In a letter that was submitted to Capitol Hill on Friday, March 20, ARA asked for $20 billion in…
The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $900 billion equipment finance sector, showed their overall new business volume for February was $6.8 billion, up 15 percent year-over-year from new business volume in February 2019. Volume was…
Coronavirus-caused Slowdown Contrasts with January Figures Showing a Majority of Metro Areas Added Construction Jobs; Officials Note New Infrastructure Funding and Paid Family Leave Fixes are Needed The coronavirus pandemic has caused more than one out of four contractors to halt or delay work on current projects, according to a survey released by the Associated…
The effects of the coronavirus (COVID-19) are significantly impacting the equipment and event rental industry. According to a recent survey of the American Rental Association (ARA) membership, rental revenues are declining and are projected to significantly deteriorate in the coming months. All party and event rental business respondents indicate event cancelations leading to a loss…
America’s biggest construction tradeshow — CONEXPO-CON/AGG — only happens every three years, so each one you attend is a badge of honor. The 2020 iteration is my fifth, and it will probably be one of the most memorable as the panic surrounding novel coronavirus COVID-19 seemed to crescendo the week during the event. Not to…
Confidence among U.S. construction industry leaders generally improved in January, consistent with the burgeoning momentum of the U.S. economy during the early weeks of 2020, according to the Associated Builders and Contractors Construction Confidence Index that was recently released. While the reading for sales expectations edged lower for the month, confidence pertaining to sales, profit…
Following President Trump’s declaration of a national emergency, the U.S. Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) issued a National Interest Exemption memorandum to facilitate response efforts for COVID-19, also known as novel coronavirus. In view of the special circumstances in the national interest presented by the novel coronavirus outbreak, OFCCP will…
Associated Builders and Contractors reported today that its Construction Backlog rose to 8.9 months in January 2020, a 5.9% increase from December’s reading. Backlog for firms with less than $30 million in revenue expanded by nearly 20% after declining sharply in December. “This represents yet another reminder that nonresidential construction and the broader economy entered…