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February 2015 Economic News02-02-15 | News

February 2015 Economic News
Construction Hiring Outlook - Regional Breakdown

Percentage of companies that expect to add workers:
Midwest – 84% · Northeast – 81% · South – 83% · West – 78%

Percentage of companies that report currently having a hard time filling both professional and craft worker positions:
Midwest – 44% · Northeast – 41% · South – 43% · West – 46%

Percentage of companies that expect it to become harder to find and hire qualified construction professionals in 2015:
Midwest – 38% · Northeast – 48% · South – 41% · West – 39%

Percentage of companies that expect it to become harder to find and hire skilled craft workers in 2015
Midwest – 41% · Northeast – 44% · South – 40% · West – 39%
2015 Associated General Contractors of America Construction Outlook Survey

Quotes . . .
"Contractors are extremely optimistic about the outlook for 2015. If their predictions prove true, industry employment could expand this year by the most in a decade."
- Stephen E. Sandherr, CEO, Associated General Contractors of America

"There isn't any real sign that layoffs are picking up in any real sense. It seems like the labor market is entering 2015 in pretty good shape."
- Guy Berger, an economist at RBS Securities Inc. in response to the news that jobless claims were 10,000 less in the week ended Jan. 17 compared to the previous week.

"I think the good news here is the economy has improved a lot. We're in a pretty good place."
- John Williams, president, Federal Reserve Bank of San Francisco

Value of Construction Put in Place in November

5.7 % - The first 11 months of 2014 compared to the same period in 2013
2.4% - November 2014 compared to November 2013
0.3% - Highway construction for the month compared to October 2014
The U.S. Census Bureau of the Department of Commerce

$975 billion - November 2014 compared to October 2014's $977.7 billion
$345 billion - Nonresidential construction for the month compared to October 2014's $346.1 billion
2.5% - Educational construction for the month compared to October 2014