Michael Latas & Associates
Construction Report - October 2022

Executive Summary

• Construction backlogs increased in September vs. August of 2022 and September 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 274K jobs in September from August while the construction industry gained 11K jobs vs. last month. 
  • The construction industry grew +3.9% vs. the prior year with all sectors employing more people
  • Specialty contractors grew and are employing 4.1% more people than the prior year
  • Heavy Civil 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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