from Mark Smith, California Builders Alliance
"Nothing is proprietary" in saving lives of workers
Some of the biggest players in construction, including Turner Construction, Kiewit, Bechtel, Skanska, Stanley Black & Decker, Fluor, Clark Construction and DPR Construction, have joined forces in an industrywide effort to develop solutions to lower the suicide rate among construction workers. "Just like with worksite safety, nothing is proprietary when it comes to saving lives," said Brendan Bechtel, chair and CEO of Bechtel. Full Story: Construction Dive
Construction starts fall 6% in Sept.
Total construction starts in the US fell by 6% to an annual rate of $1.1 trillion, according to Dodge Construction Network. Nonbuilding starts dropped 11%, residential starts decreased by 1% and nonresidential building starts declined by 6%. Despite this, year-to-date figures show a 2% increase in total starts compared to the same period in 2023, with residential starts up 7% and nonresidential buildings up 2%. Full Story: Dodge Data & Analytics
Minneapolis Federal Reserve President Foresees Smaller Rate Cuts In Coming Quarters
Bloomberg reports Minneapolis Fed President Neel Kashkari “repeated that he favors reducing interest rates at a slower pace in the coming quarters.” Kashkari, who spoke Monday “at an event in Wisconsin, said he supported the larger-than-normal rate cut that policymakers delivered last month, but indicated he sees smaller cuts at future meetings.” Meanwhile, Bloomberg reports San Francisco Fed President Mary Daly “said she expected the US central bank would continue cutting interest rates to guard against further weakening in the labor market.” Daly said Monday, “So far, I haven’t seen any information that would suggest we wouldn’t continue to reduce the interest rate. This is a very tight interest rate for an economy that already is on a path to 2% inflation, and I don’t want to see the labor market go further.”
Federal Reserve To Maintain Economic Support Amid Job Market Challenges
Reuters reports that U.S. unemployment aid applications fell last week, but continuing claims rose to the highest in nearly three years, indicating job market challenges. The Labor Department noted a drop in initial claims, partly due to reduced hurricane impacts. Federal Reserve officials are expected to maintain economic support despite labor market distortions from hurricanes and a Boeing strike. Economist Carl Weinberg stated, “The labor market is softening but not imploding,” supporting gradual Fed policy easing.
Retail Sales Increase As Inflation Cools
The AP reported that U.S. retail sales rose 0.4% from August to September, according to the Commerce Department. Sales increased at online retailers, restaurants, and grocery stores, while gas station sales fell due to lower prices. Quincy Krosby of LPL Financial noted sales exceeded expectations. The Federal Reserve’s recent half-point rate cut coincided with improved hiring and low unemployment. Holiday sales are expected to rise modestly.
AGC: Construction employment rises in 40 states
Construction employment rose in 40 states from September 2023 to September 2024, with Texas, Florida and Ohio leading in job additions, according to an analysis of federal data by the Associated General Contractors of America. However, New York and Oregon saw the most significant job losses. The AGC attributes the uneven growth to a shortage of qualified workers and is urging Congress to increase funding for workforce training and education to address this issue. Full Story: TED Magazine
Architecture billings fall for 20th consecutive month
The Architecture Billings Index recorded a score of 45.7 in September, marking the 20th consecutive month of decline, according to the American Institute of Architects. AIA Chief Economist Kermit Baker noted that despite recent interest rate cuts, many clients remain cautious about new projects. However, firms reported an average backlog of 6.4 months and there was an increase in new project inquiries. Full Story: The Architect's Newspaper
Construction groups spend $122.5M in 2024 election cycle
As of Sept. 22, construction groups have combined for $122.5 million in contributions in the 2024 election cycle, according to the Center for Responsive Politics. As of Oct. 17, the Associated General Contractors of America's political action committee contributed more than $1.2 million to federal candidates and committees, an increase from $978,000 in the 2020 cycle. Full Story: Engineering News-Record (tiered subscription model)
SCOTUS to review court jurisdiction in Clean Air Act cases
The US Supreme Court has agreed to hear a challenge brought by Republican-led states and companies regarding the venue of lawsuits against the Environmental Protection Agency's "good neighbor" rule for curbing cross-border ozone pollution. The case will determine whether challenges to EPA rejections of state implementation plans for the rule should remain with the US Court of Appeals for the District of Columbia Circuit or be heard by regional circuits. Full Story: Howe on the Court E&E News Bloomberg Law
Cemex Ventures, partners select finalists for tech contest
Cemex Ventures and partners, including Trimble and Caterpillar, have chosen eight finalists for the 2024 Construction Startup Competition from applicants across 70 countries. Finalists will compete at the Trimble Dimensions conference in categories including green construction, enhanced productivity and the future of construction. Among the finalists are Kaya AI, Raise Robotics and Trunk Tools. Full Story: Construction Dive
Turner, Cemex commit to federal Buy Clean initiative
The White House recently updated its Buy Clean initiative, highlighting new commitments from Cemex, Turner Construction, Amazon Web Services and Microsoft. Additionally, Los Angeles, New York State, the state of Washington and Michigan have joined the Federal-State Buy Clean Partnership. New York City is set to mandate environmental product declarations for concrete and steel. The federal government has allocated $4.5 billion from the Inflation Reduction Act to support efforts toward cleaner construction practices. Full Story: Archinect
Cab redesigns prioritize comfort and safety
Construction equipment manufacturers like Hitachi, Caterpillar and Case are redesigning heavy equipment cabs to enhance operator comfort and safety. These improvements aim to attract and retain skilled operators amid labor shortages by offering features such as ergonomic controls, advanced filtration systems and panoramic visibility. Enhanced cab designs not only boost productivity but also protect operators' health by minimizing exposure to harmful dust and reducing fatigue through better noise and vibration insulation. Full Story: For Construction Pros
US demolition projects nominated for global awards
Nine US contractors have been shortlisted for the 2024 World Demolition Awards, with projects ranging from controlled explosions to large-scale bridge demolitions. Notable finalists include Controlled Demolition, which cleared debris from a cargo ship that crashed into Baltimore's Key Bridge, and Kiewit, responsible for dismantling the Gerald Desmond Bridge at the Port of Long Beach. Full Story: Equipment World
$4.2B newly allocated for transport projects nationwide
US Transportation Secretary Pete Buttigieg has announced more than $4.2 billion for 44 infrastructure projects. Notable projects include a freight corridor in Jackson, Miss., and the Long Key Bridge Replacement in Monroe County, Fla. Full Story: Roads & Bridges
San Francisco revisits Geary Boulevard subway proposal
San Francisco is revisiting a long-standing proposal to build a subway along Geary Boulevard, aiming to connect the city's west side to downtown and beyond. The project, part of the ConnectSF initiative, seeks to alleviate congestion on the busy Geary and 19th Avenue corridors, which currently serve over 50,000 Muni riders daily. If completed, the subway could accommodate over 300,000 riders per day. Full Story: SFGate (San Francisco)
$96M Calif. floodgate completed
Officials in Stockton, Calif., have inaugurated the $96 million Smith Canal Gate Project, the first floodgate of its kind west of the Mississippi River. The project, which faced delays due to litigation, aims to provide unprecedented flood protection for 8,500 properties in central Stockton, a high-risk flood zone, and will be integrated into the $1.4 billion US Army Corps of Engineers Lower San Joaquin River Project. Full Story: The Record (Stockton, Calif.) (tiered subscription model)
New affordable housing community opens in South Lake Tahoe
Sugar Pine Village, a new affordable housing community has reached a construction milestone in South Lake Tahoe, unveiling 68 of the total 248 planned homes.
The development is the largest affordable housing project in South Lake Tahoe’s history, designed to provide housing options for families and workers in the region. The project transforms previously vacant state-owned land into a residential community.
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Mark Smith
Advocate
California Builders Alliance
5370 Elvas Avenue ǀ Sacramento, CA 95819
Cell: 916.335.5072
Email: mark.smith@calbuilders.org
Email: mark@smithpolicygroup.com
