Michael Latas & Associates
Construction Report - March 2021

Executive Summary

• Construction backlogs and employment increased in March vs. February by +9.3% and +1.5% respectively
• Total construction backlogs increased by +9.3% from last month with infrastructure construction growing fastest at +30%
  • Infrastructure firms also added people faster than any other area growing at 2.6% from the prior month
• Current backlogs are 7.9% lower than last year
• The United States gained 916K jobs in March while the construction industry added 110K jobs or 3X the rate of the overall economy 
  • The construction industry grew by +1.5% vs. a increase of +0.6% for all industries
  • Heavy Civil contractors had the most gains in March vs. February, +2.6%
  • General contractors in residential construction grew 1.2% in March vs. February assisted by low interest rates creating a strong housing market
• General Contractors have more people employed than at this time last year
• Recruiting starts have increased dramatically in the last 30 days

Add talent to your team by contacting us today!