Michael Latas & Associates
Construction Report - January 2023

Executive Summary

• Construction backlogs increased in December vs. November of 2022 and December of 2021 by 12.2% and 0.0% respectively
• Total construction backlogs increased from last month with infrastructure construction growing fastest
• Current backlogs are 9.2 months of work
• The United States gained 223K jobs in December from November while the construction industry gained 28K jobs vs. last month. 
  • The construction industry grew +3.1% vs. the prior year with all sectors employing more people
  • General contractors in non-residential grew and are employing 3.6% more people than the prior year
  • Specialty contractors grew and are employing 3.2% 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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