Michael Latas & Associates
Construction Report - October 2025

Executive Summary

• Construction backlogs down 3.4% this month vs. last month and up 3.7% from last year
• Infrastructure construction growing fastest
• Current backlogs are 8.5 months of work
• The United States gained 22K jobs from the prior month while the construction industry lost 7K jobs vs. last month. 
  • The construction industry grew +0.7% vs. the prior year with all sectors employing more people
  • Heavy Civil contractors grew and are employing 2.0% more people than the prior year
  • General contractors in commercial and industrial grew and are employing 1.3% 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
• When asked what sales about sales expectations for the following year, 9% responded, "up big" and 48% "up small".
  
  • Only 21% expect next year to be lower than this year. 
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