Michael Latas & Associates Construction Report - September 2020
Executive Summary
Construction backlogs and construction employment both increased in September vs. August by +2.6%% and +0.4% respectively
Total construction backlogs increased by +2.6% from last month with heavy infrastructure construction growing fastest at +4.3%
Heavy Industrial construction lagged other areas and were down 3.7% from last month; leaving them down 9.2% from last year
Current backlogs are 5.9% lower than last year while infrastructure backlogs are 4.3% higher than last year
The United States gained 0.7M jobs in September (seasonally adjusted)
The construction industry grew by +0.4% vs. +0.6% for all industries
General contractors in residential construction had the most gains in September vs. August, +0.9%, while general contractors in non-residential projects added +0.4%
September was the 5th straight month of increased employment form the lows of April
Recruiting starts have increased dramatically in the last 30 days
