The construction industry might be finally starting to put on some weight after a long bout of starvation.
According to the Bureau of Labor Statistics, seasonally adjusted payroll increased in January in 31 states and the District of Columbia and remained unchanged in Idaho. A year ago the BLS report was battling a severe bout of the recession, with employment falling everywhere except Alaska.
“The job-openings rate rose [in January 2010] to the highest the rate has been since February 2009,” the BLS reported.
Manpower Inc. also reported that employers are expecting a relatively stable hiring rate for the second quarter 2010 compared to the first quarter. Manpower Inc. surveyed 18,000 U.S. employers and found that 18% of construction employers actually plan to hire more in the coming months.
However, material prices are starting to climb upward. Gerdau Ameristeel announced that it was raising prices for reinforcing bar products $25 per ton immediately and $50 per ton on April 1. On-highway diesel fuel rose to $2.90 a gallon, the highest since November 2008, and projected diesel prices are $2.96 for 2010 and $3.14 for 2011. The New Mexico Department of Transportation and the Illinois Department of Transportation also announced that their indexes for liquid asphalt will increase in April.