Construction Outlook

Associated Builders and Contractors (ABC) sees the decline in employment in today's report as an indication that the sagging housing market and the turmoil in the credit and financial markets are beginning to affect the wider economy, as well as the nonresidential construction segment, where signs of weakness are beginning to emerge. On the brighter side, the average hourly earnings increased to $17.50 and are up 3.9 percent over the past 12 months. This is expected to support a moderate pace of consumer spending over the near-term. For more information, check out the Construction Economic Homepage.