Tag: business: Page 27

Workforce

Aging U.S. workforce carries both benefits and liabilities for construction companies

Many factors have caused older workers to remain on the job longer and the trend is only expected to increase. This change in demographics has several different effects on workplace safety trends. About one-quarter of all workers are expected to be 55 or older by 2022, according to Mitra Toossi, an economist with the Bureau […]

January 20, 2016

Business

Johnson to replace Rapp as president of Caterpillar’s Resource Industries group

The Caterpillar board of directors has elected Denise Johnson as the next group president for Resource Industries. Johnson will replace Ed Rapp who last month announced his plans to retire due to a recent diagnosis of Amyotrophic Lateral Sclerosis (ALS), better known as Lou Gehrig’s disease. Johnson currently serves as vice president of Cat’s Material Handling […]

January 15, 2016

Business

Contractors tell AGC worker shortage remains their top concern despite half having already increased base pay

As we reported yesterday, a majority of construction firms in the U.S. are optimistic about 2016 volumes and plan to hire more workers to meet likely increased demand. But their optimism is significantly tempered by two still-lingering factors: a shortage of available workers to hire and the quality of worker they’re seeing walk through their […]

January 12, 2016

Business

Nearly 2/3 of U.S contractors plan to hire in 2016 due to optimism in several markets, AGC study finds

The vast majority of U.S. contractors have voiced a positive outlook for 2016 and are expecting to hire more workers to meet demand, according to a new survey from the Associated General Contractors of America. Receiving responses from 1,580 construction firms across the country, the AGC’s 2016 Construction Outlook Survey found that 71 percent of […]

January 11, 2016

Business

Construction adds 45,000 jobs in December to finish 2015 up 4%

Finishing 2015 with a ninth-consecutive month of employment gains, the U.S. construction industry added 45,000 employees to its workforce in December. The industry now employs 6.538 million Americans, the highest mark since January 2009’s total of 6.567 million, according to preliminary data from the Labor Department. Despite the gains, the industry saw unemployment increase from […]

January 8, 2016

Business

Why an error in the Commerce Department’s construction spending calculation is actually good news

The Commerce Department has announced a revision to 10 years worth of construction spending estimates, correcting a calculation error that will likely lead to a boost in the GDP. “In the November 2015 press release, monthly and annual estimates… for January 2005 through October 2015 have been revised to correct a processing error in the tabulation of […]

January 5, 2016

Business

Caterpillar found guilty of stealing trade secrets for creation of excavator quick couplers

Caterpillar has been ordered to pay Miller UK Ltd. nearly $74 million after being found guilty by a federal court in Chicago of stealing trade secrets in order to create its excavator quick coupler lineup. The decision comes five years after Miller filed its lawsuit and was the result of an eight-week trial. “We are disappointed […]

January 4, 2016

Business

Construction spending falls 0.4% in November

Despite continued increases in single-family homebuilding, total construction spending in November dipped 0.4 percent to $1.122 trillion. Spending remains 10.5 percent above the year-ago mark, according to preliminary data from the Commerce Department. Total residential spending rose 0.2 percent to $434 billion in November and is up 11 percent year over year. Private residential rose […]

January 4, 2016

Business

Fluor to diversify offerings with purchase of Netherlands­-based Stork

Headquartered in Irving, Texas, construction giant Fluor Corporation is buying Stork, one of Europe’s oldest industrial companies, founded in 1827. The purchase price for Stork is estimated at $755 million, for a company which specializes in maintenance and modification of large industrial facilities in the oil and gas, chemical, petrochemical, and power generation markets. Stork […]

December 21, 2015

Business

U.S. home starts up 10.5% as labor, lot costs continue to worry builders

The start of construction on homes in the U.S. rebounded in November with gains in both single-family and apartment construction. Following a down October, home starts were up 10.5 percent to a seasonally-adjusted annual rate of 1.173 million in November, according to preliminary data from the Commerce Department. The total is 16.5 percent above the November […]

December 16, 2015

Business

Contractors mulling lawsuit against city of New Orleans over local-hiring ordinance

City officials in New Orleans are contending with the ire of both supporters and opponents of a new law in the city that requires contractors on city jobs to hire more local workers. According to a report from The Times-Picayune, the City Council approved the law in October, requiring contractors to “make a good faith […]

December 8, 2015

Workforce

Construction adds 46,000 jobs in November

Despite the onset of colder months, construction job numbers are only heating up. Following the addition of 34,000 jobs in October, the industry added another 46,000 jobs in November, according to preliminary data from the Labor Department. Construction now employs 6.490 million Americans—the highest figure since January 2009 when it employed 6.567 million. This is the […]

December 4, 2015