Michael Latas & Associates
Construction Report - January 2022

Executive Summary

• Construction backlogs increased in December vs. November of 2021 and December of 2020 by +3.7% and 16.7% respectively
• Total construction backlogs increased by +3.7% from last month with industrial construction growing fastest
• Current backlogs are 16.7% higher than last year with industrial construction
• The United States gained 200K jobs in December from November while the construction industry gained 31K jobs vs. last month. 
  • The construction industry grew +2.4% vs. the prior year with all sectors employing more people
  • General contractors in residential construction grew and are employing 6.2% 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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