Michael Latas & Associates
Construction Report - May 2023

Executive Summary

• Construction backlogs increased in this month vs. last month and last year by 2.3% and up 1.1% respectively
• Total construction backlogs increased from last year with infrastructure construction growing fastest
• Current backlogs are 8.9 months of work
• The United States gained 253K jobs from the prior month while the construction industry lost 15K 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 2.4% more people than the prior year
  • Specialty contractors grew and are employing 2.8% 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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