Industry-Relevant Employment and Construction Numbers on the Up

The glass and glazing industry appears to be in good economic shape as the year nears its end, according to USGNN.comâ„¢ analysis of Bureau of Labor Statistics (BLS) and U.S. Census Bureau data.

Employment

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The latest construction numbers show strength in the building sectors most relevant to the glass industry.

Nonresidential specialty trade contractors, which includes contract glaziers, have increased employment by 1.4 percent since this time last year, the BLS reports. This segment increased jobs from 2,359,800 to 2,392,200 from November 2015 to November 2016. It also saw a 0.8 percent increase from October.

The residential sector, however, led the way in the specialty trade contractor category with a 4.4-percent jump over the year and a 14.7-percent spike month-over-month. Construction employment as a whole was up 2.4 percent from the same time last year.

Employment in the nonmetallic mineral products category, which includes glass manufacturing, decreased 0.6 percent for the month but has increased 0.5 percent for the year. Employment in fabricated metal products fell 1.6 percent from October to November and is down 1.8 percent from November 2015.

Construction

The latest construction numbers show strength in the building sectors most relevant to the glass industry.

Construction spending for office buildings has increased 24.8 percent from October 2015 to 2016 (to $70,745,000) even though it is down 1.6 percent from September, the Bureau reports. Lodging construction is also up big over the year, increasing 20.9 percent (to $27,435,000). It too, however, is down month-over-month by a 2.2-percent margin.

Commercial construction saw a 6.8-percent increase from October 2015 to October 2016 (to $74,071,000), with a 0.3-percent decrease from September 2016.

The educational sector increased in spending by 13 percent (to $92,423,000) from the same time last year and 2.3 percent from a month ago. Healthcare buildings have been less active, increasing just 1.9 percent ($41,376,000) from last October and decreasing 3.1 percent from September of this year.

New multifamily construction was up both yearly and monthly (to $63,696,000) at 11.4 percent and 2.8 percent, respectively.

Amusement and recreation saw a 5.5-percent increase in construction spending (to $21,692) from the same time last year but a slight 0.1-percent dip from the prior month. Finally, the transportation segment increased construction 2.2 percent for the month (to $42,180,000) but declined by 8.9 percent for the year.

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