from Mark Smith, Advocate, California Builders Alliance
Annual inflation rose to a three-year-high of 4.2% in May, underscoring how elevated energy prices are rippling through the US economy, according to new data from the Bureau of Labor Statistics.
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The Dodge Momentum Index increased to 275.7 in May, driven by a 6.9% rise in commercial planning and a 3.1% increase in institutional planning. Data center activity led the growth, but sectors such as health care, retail and offices also showed gains. However, persistent labor constraints, high material costs and supply chain issues continue to affect sentiment.
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Full Story: Dodge Construction Network |
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US construction jobs rise by 17K in May on data center demand |
US construction employment rose by 17,000 jobs in May, driven by demand for data centers and nonresidential projects, according to an Associated General Contractors of America analysis. Nonresidential construction added 15,700 jobs, while residential construction saw a modest increase of 900 jobs. Average hourly earnings for construction workers rose by 5% to $38.97. AGC CEO Jeffrey Shoaf warns that community backlash against data centers and potential delays in the highway bill could hinder future job growth.
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Full Story: Associated General Contractors of America |
Treasuries have declined as investors bet on a Federal Reserve interest-rate increase amid strong US jobs data and tensions in the Middle East. Yields rose by two to five basis points, with the two- and five-year notes the most affected. President Donald Trump has opposed a rate increase, advocating for a cut instead.
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Full Story: Bloomberg |
US construction costs have surged, with input costs more than 40% higher than in early 2020, driven by the Iran conflict, tariffs and labor shortages, according to the Associated General Contractors of America. This has led to project delays and increased contingency buffers, though the broader economic impact remains unclear.
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Full Story: IPE Real Assets (UK) |
A federal judge in Boston has blocked a Trump administration policy that would impose a $100,000 fee on new H-1B visas, calling it an unlawful tax. The ruling came after 20 states filed a lawsuit arguing that the fee would hinder the hiring of teachers and medical staff. The American Council of Engineering Companies has opposed the fee, citing its potential to reduce the number of engineering and architecture visas by 48,000.
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Full Story: Engineering News-Record (tiered subscription model) |
Where Trades Go is a networking platform for the construction industry inspired by dating apps. The platform allows users--including students, experienced tradespeople, and retirees seeking teaching roles--to create profiles that showcase their certifications, skills, and actual work through photos and videos. By requiring identity verification and the upload of credentials, the platform aims to provide a transparent, visual-based approach to hiring and networking, benefiting both educational institutions and employers. Contractors can access verified talent pools via local trade schools at no cost, streamlining the recruitment process.
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Full Story: Construction Dive |
Structured AI has raised $4.2 million in a seed round led by FCVC, bringing its total funding to $5 million. The company, which has developed a quality assurance and quality control platform using artificial intelligence, has been working with Syska Hennessy Group to address issues such as MEP coordination. The platform uses optical recognition to analyze construction documents and fieldwork, aiming to speed up QA/QC processes without removing decision-making from architects and engineers.
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Full Story: Engineering News-Record (tiered subscription model) |
The US Green Building Council has certified 31 stadiums in North America under the Leadership in Energy and Environmental Design program, demonstrating energy efficiency at large scales. MetLife Stadium is the latest to receive Gold LEED certification, using solar generation, LED lighting and hybrid-electric vehicles. Levi's Stadium, certified in 2014, features 1,162 solar panels and a 7,500-square-foot rooftop garden. BC Place in Vancouver and Estadio Banorte in Mexico City also highlight significant sustainable features.
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Full Story: Construction Dive |
Charlotte has implemented a 150-day moratorium on new data center construction to manage the rapid growth driven by artificial intelligence. City Council unanimously approved the measure, citing the need to study potential regulations and address community concerns about data centers being built near homes. The moratorium does not affect projects already underway. Similar actions have been taken in other North Carolina municipalities.
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Full Story: Axios/Charlotte, N.C. |
A Minnesota judge has issued a temporary restraining order to halt construction of Google's Project Skyway data center in Pine Island, Minn., following a challenge from the Minnesota Center for Environmental Advocacy regarding the adequacy of the environmental review process. Project general contractor Ryan Cos. estimates the delay could cost $5 million or more.
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Full Story: Construction Dive |
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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
