Michael Latas & Associates
Construction Report - February 2024

Executive Summary

• Construction backlogs are up this month vs. last month and down from last year by 1.2% and 6.5% respectively
• Commercial & Institutional construction growing fastest
• Current backlogs are 8.6 months of work
• The United States gained 353K jobs from the prior month while the construction industry gained 11K jobs vs. last month. 
  • The construction industry grew +2.7% vs. the prior year with all sectors employing more people
  • Heavy Civil contractors and grew and are employing 3.3% more people than the prior year
  • General contractors in commercial and industrial grew and are employing 4.0% more people than the prior year
• All Contractors have more people employed than at this time last year and there are few people left to hire

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