Michael Latas & Associates
Construction Report - December 2020

Executive Summary

• Construction backlogs and employment increased in December vs. November by +1.4% and +0.7% respectively
• Total construction backlogs increased by +1.4% from last month with heavy infrastructure construction growing fastest at +2.3%
  • Heavy Industrial construction lagged other areas and were down 6.7% from last month
• Current backlogs are 17.0% lower than last year
• The United States lost 140K jobs in December while the construction industry added 50K jobs (seasonally adjusted)
  • The construction industry grew by +0.7% vs. a decline of -0.1% for all industries
  • Heavy Civil contractors had the most gains in December vs. November, +1.5%
  • General contractors in residential construction grew 1.1% in December vs. November assisted by low interest rates creating a strong housing market
• December was the 8th straight month of increased employment form the lows of April
• Recruiting starts have increased dramatically in the last 30 days

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