Michael Latas & Associates
Construction Report - March 2023

Executive Summary

• Construction backlogs increased in this month vs. last month and last year by 15.0% and down 2.2% respectively
• Total construction backlogs increased from last month with industrial construction growing fastest
• Current backlogs are 9.2 months of work
• The United States gained 311K jobs in January from December while the construction industry gained 22K jobs vs. last month. 
  • The construction industry grew +3.2% vs. the prior year with all sectors employing more people
  • General contractors in non-residential grew and are employing 4.9% more people than the prior year
  • Specialty contractors grew and are employing 3.0% 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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