A market downturn in the construction industry is coming; however, it’s not likely until after 2020. Construction industry members and observers know a decline is inevitable with market growth continuing too long to last.

The construction markets are entering the late stage of the recovery cycle; however, experts do not predict an impending downturn in the United States.

With the end of the year rapidly approaching, we begin to focus on what to expect in the year 2020. The Bureau of Labor Statistics reported an increase in the construction industry’s jobless rate. It rose to 4 percent at the end of the third quarter, despite a gain of 10,000 jobs.

Construction unemployment data from the U.S. Bureau of Labor Statistics indicates that as of the beginning of the fourth quarter, construction unemployment equaled its lowest monthly level reported in over a decade.

As we enter the fourth quarter of 2019, the Bureau of Labor Statistics is reporting the construction sector unemployment has declined to 3.6 percent.

Tight labor markets for skilled tradesmen remain a current and long-term constraint on construction projects in all sectors of the PVF industry. 

Construction jobs at the end of the first half of the year showed more strength than during the first quarter and at the beginning of the second quarter.

The Manufacturer/Supplier Governing Board convened in Leesburg, Va., in early June at the Landsdowne Resort and Spa facility. 

Can you believe the end of the second quarter is here? This year is passing very fast and the third quarter is around the corner.

The U.S. manufacturing sector continues to show growth and optimism in the latest survey conducted by the National Association of Manufacturers (NAM).