Tag: rate
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Construction Worker Quit Rate Hits Nine-Year Low
The construction industry had 306,000 job openings at the end of July, an increase of 64,000 from the previous month and 77,000 year over year, according to an analysis of federal data by Associated Builders and Contractors (ABC). The job opening rate also rose to its highest level in over a year. However, ABC Chief…
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Contractors welcome rate cut, push for more
Listen to the article 4 min This audio is auto-generated. Please let us know if you have feedback. Contractors finally got the news they had been waiting on, a rate cut that could rouse the sleeping construction market. The Federal Reserve cut its benchmark interest rate by 25 basis points on Wednesday afternoon. The move…
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June 2025 Construction Unemployment Rate Holds Steady Nationwide, Varies by State
The national not seasonally adjusted (NSA) construction unemployment rate for June 2025 was 3.4%, according to an analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors (ABC). This marks a slight 0.1 percentage point increase from June 2024. The state-by-state analysis found that: 18 states reported lower construction unemployment rates…
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Construction pros react to interest rate decision
Listen to the article 8 min This audio is auto-generated. Please let us know if you have feedback. Contractors hoping for relief from the Federal Reserve will have to wait a while longer. The central bank held its benchmark federal funds interest rate steady Wednesday afternoon in the range of 4.25% to 4.5%. The decision…
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Interest rate fog stalls construction momentum
Listen to the article 5 min This audio is auto-generated. Please let us know if you have feedback. In the first half of the year, one word continued to appear in headlines surrounding broad economic and political change: “uncertainty.” Construction Dive’s Uncertainty Series delves into how this lack of clarity is affecting contractors and what…
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Hiring rate, job openings remain historically low
Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Construction counted 3,000 more open jobs on the last day of May compared with April, according to a Bureau of Labor Statistics report released Tuesday. The industry had 245,000 unfilled positions at the end of…
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Construction hiring slows to lowest rate ever recorded
Listen to the article 2 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Construction industry job openings decreased by 38,000 last month even as hiring in the sector slowed to its lowest rate on record, according to an Associated Builders and Contractors analysis of data from the U.S.…
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Fed holds main rate steady, forecasts higher inflation, slower growth
Dive Brief: The Federal Reserve on Wednesday kept the main interest rate at a range between 4.25% and 4.5% while forecasting higher inflation and slower growth for 2025. In a median forecast, Fed officials estimated that their preferred measure of inflation — the core personal consumption expenditures price index less volatile food and energy prices…
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Inflation heats up to 3% as Trump calls on Fed to cut main rate
Listen to the article 4 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Consumer prices rose last month at a 3% annual pace, higher than expected and the biggest gain since June, according to a government report released Wednesday, soon after President Donald Trump called on the Federal…