October construction increase

Dec. 3, 2014

There’s good news for the construction industry: builders are hiring.

According to the Commerce Department, U.S. construction has increased compared to last year, due to newly built homes and schools. Residential or new-home sales has risen one percent, the Commerce Department reports.

Associated Press writer, Josh Boak, said, “Construction companies are adding an average of 14,000 workers a month so far this year, compared with a monthly average of 11,083 in 2013. The challenge is that stronger hiring and economic growth during 2014 has yet to translate into the wage growth that could further propel construction spending and hiring.”

Architectural firms are also reporting an increase in demand for services. This is an indication that construction spending is likely to improve in the year ahead.

Read the original article entitled U.S. Construction Spending up 1.1 Percent in October by Josh Boak, AP Economics Writer here.