Michael Latas & Associates
Construction Report - November 2022

Executive Summary

• Construction backlogs increased in October vs. September of 2022 and October of 2021 by 3.4% and 18.4% respectively
• Total construction backlogs increased from last month with industrial construction growing fastest
• Current backlogs are 9.0 months of work
• The United States gained 290K jobs in October from September while the construction industry gained 2K jobs vs. last month. 
  • The construction industry grew +3.6% vs. the prior year with all sectors employing more people
  • General contractors in residential grew and are employing 4.0% more people than the prior year
  • General contractors grew and are employing 3.9% 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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