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Michael Latas & Associates
Construction Report - October 2020
Executive Summary
Construction backlogs and hiring increased +2.7% and +1.2% respectively from prior month
Total construction backlogs increased by +2.7% from last month led by infrastructure construction
The United States gained 700K jobs in October and 90K of these were in the construction market (seasonally adjusted)
The construction industry grew by +1.2% vs. +0.5% for all industries
General contractors in non-residential construction had the most gains in October vs. September, +1.8%,
October was the 6th straight month of increased employment form the lows of April
Recruiting starts have increased dramatically in the last 30 days
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