Steel Markets
AGC: Construction Employment Still Lagging in November
Written by Sandy Williams
December 18, 2020
Construction employment remains below pre-pandemic levels in 35 states even though 31 states and D.C. added jobs from October to November, said the Associated General Contractors in an analysis of November government data.
“An increase in project cancellations and postponements is forcing nonresidential contractors to lay off workers as they complete projects started before the pandemic and firms exhaust their Paycheck Protection Program loans,” said AGC Chief Economist Ken Simonson. “Despite strong demand for single-family homebuilding and remodeling, overall industry employment is likely to shrink in more states in the absence of federal assistance.”
AGC said a renewal of the Paycheck Protection Program is needed along with clarification by Congress that firms will not incur tax liability when using the loans as intended.
Seasonally adjusted construction employment in November was lower than in February—the last month before the pandemic forced many contractors to suspend work—in 37 states, Simonson noted. New York lost the most construction jobs over the nine-month period (-39,700 jobs or -9.7 percent), followed by Texas (-37,200 jobs, -4.7 percent). Vermont experienced the largest percentage loss (-24.5 percent, -3,600 jobs), followed by North Dakota (-13.9 percent, -4,100 jobs).
Only 15 states and the District of Columbia added construction jobs from February to November. Virginia added the most jobs and highest percentage (11,800 jobs, 5.8 percent), followed by Utah (5,800 jobs, 5.1 percent).
Construction employment decreased from October to November in 17 states, increased in 31 states and D.C., and was unchanged in Maine and Nebraska. California had the largest loss of construction jobs from October to November (-5,800 jobs or -0.7 percent), followed by New Jersey (-3,800 jobs, -2.5 percent) and Nevada (-3,700 jobs, -3.9 percent). Nevada had the largest percentage decline, followed by South Dakota (-3.8 percent, -1,000 jobs).
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Worldsteel: Global steel demand flat, but modest rebound forecast for 2026
The World Steel Association (worldsteel) Short Range Outlook for global steel demand predicts that 2025’s steel demand will clock in at the same level as in 2024. In its October report, the Brussels-based association stated that this year’s steel demand will reach ~1,750 million metric tons (mt). The organization forecasts a 1.3% demand rebound in 2026, pushing […]
CRU: China’s indirect steel exports find new destination markets
The boom in China’s direct steel exports has not stopped this year, even with a rise in protectionist measures globally. The increase is driven by...
Great Lakes iron ore cargoes down in September as Cleveland tonnage slips
Iron ore shipments from US Great Lakes ports fell sharply in September, per the latest from the Lake Carriers’ Association (LCA) of Westlake, Ohio.
HVAC equipment shipments down through August
Although total HVAC shipments fell in August, YTD volumes remain relatively strong. Nearly 15 million units were produced in the first eight months of the year, the fourth-highest rate in our 19-year data history.
Sheet market sources slam tariffs for prolonged demand slump
Tariffs are ultimately to blame for stagnant demand in the hot-rolled coil market, domestic market sources tell SMU.