Related Links: Pay and Diversity Gaps Challenge AEC HR Managers to Boost Role Republicans Put Repeal of Prevailing Wages on Front Burner Average salary increases continue on an upward path for construction employers, particularly for entry- and junior-level staff positions, as firms seek to fill developing workforce gaps.Salaries rose an average of 3.46% in 2014, following increases of 3.16% in 2012 and 3.24% in 2013, says the 2015 Construction-Construction Management Staff Salary Survey published by Personnel Administration Services, Saline, Mich."The market has clearly changed," says company President Jeff Robinson. "[Firms] need people, and, to get them, they need to pay
Related Links: Complete ENR 2015 Q1 Cost Report, with Data and Analysis The largest drop in energy costs in decades has to have an impact on construction costs and markets. But perhaps not as much as you may think."The impact of the drop in oil prices will be limited to a few specific markets, such as petrochemical plants, and it will be very regional," says Robert Murray, chief economist for Dodge Data & Analytics. He still predicts that the dollar value of total construction starts will increase 9% to 10% this year. "The pullback in manufacturing is dampening growth but
Photo Courtesy of Fluor A drop in oil prices has slowed production, but work on Dow's Freeport ethylene cracker rolls on. Related Links: The Complete ENR 2015 Q1 Cost Report, with Data and Analysis Sasol Ethane Cracker Job Starts Despite Gas-to-Liquids Delay Oil Price Decline Prompts Industry Firms to Hope for The Best and Plan for the Worst The fallout from a decline in oil prices has driven a recent decline in upstream oil-and-gas work for engineers and contractors. Still, big industrial projects continue downstream, and some contractors in some regions are hoping to take advantage of a glut of
IHS Asphalt prices haven't gone down in conjunction with oil prices as quickly as in the past. Related Links: Soaring Asphalt and Fuel Prices Spike Highway Paving Costs http://enr.construction.com/infrastructure/transportation/2010/0623-soaringasphalt.asp Nevada Paves Way For Life-Cycle Bids http://enr.construction.com/infrastructure/transportation/2014/0210-warm-mix-asphalt-heats-up-in-construction-market.asp Both asphalt and concrete advocates expect increases in paving activity overall, and both note that asphalt prices haven't gone down in conjunction with oil prices as quickly as in the past. While asphalt will continue its paving prevalence, proponents of concrete contend that life-cycle costs and tight budgets may contribute to an increasing competitiveness with asphalt."Oil prices have been going down, and liquid-asphalt prices
ENR Execs see markets stable or growing, but possible moderation in 2017. Related Links: Engineering News-Record Construction Economics Construction Financial Management Association Sage Policy Group Inc. The construction market has been growing steadily for several years, slowly recovering from the depths of the 2008 recession. The good news is that most industry executives believe this trend will continue into 2015, but a majority polled by ENR also believe that growth will moderate by 2017.The ENR Construction Industry Confidence Index (CICI) survey for the fourth quarter shows that, of the 328 executives of large construction and design firms responding to the
McGraw-Hill Construction/ENR The Construction Industry Confidence Index rose for the sixth straight quarter, and industry executives believe the market will continue its steady growth through at least the beginning of 2016 Related Links: 2014 ENR Third Quarterly Cost Report (subscribers only) Engineering News-Record Quarterly Cost Reports Construction Financial Management Association Sage Policy Group The industry is now in a period of steady growth. While many firms are disappointed the recovery from the recession was not faster, most believe the current growth rate will continue at least through the beginning of 2016. But with the growth on the top line, many
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