• Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
  • PRODUCTS
  • CONTRACTORS
  • ENGINEERS
  • RADIANT & HYDRONICS
  • INSIGHTS
  • MEDIA
  • RESOURCES
  • EMAGAZINE
  • SIGN UP!
cart
facebook instagram twitter linkedin youtube
  • CONTRACTORS
  • BATH & KITCHEN PRO
  • BUSINESS MANAGEMENT
  • HIGH EFFICIENCY HOMES
  • TECHNOLOGY
  • WATER TREATMENT
  • PMC COLUMNS
  • PMC COLUMNS
  • Dave Yates: Contractor’s Corner
  • John Siegenthaler: Hydronics Workshop
  • Kenny Chapman: The Blue Collar Coach
  • Matt Michel: Service Plumbing Pros
  • Scott Secor: Heating Perceptions
  • ENGINEERS
  • CONTINUING EDUCATION
  • DECARBONIZATION | ELECTRIFICATION
  • FIRE PROTECTION
  • GEOTHERMAL | SOLAR THERMAL
  • PIPING | PLUMBING | PVF
  • PME COLUMNS
  • PME COLUMNS
  • Christoph Lohr: Strategic Plumbing Insights
  • David Dexter: Plumbing Talking Points
  • James Dipping: Engineer Viewpoints
  • John Seigenthaler: Renewable Heating Design
  • Lowell Manalo: Plumbing Essentials
  • Misty Guard: Guard on Compliance
  • RADIANT & HYDRONICS
  • RADIANT COMFORT REPORT
  • THE GLITCH & THE FIX
  • INSIGHTS
  • CODES
  • GREEN PLUMBING & MECHANICAL
  • PROJECT PROFILES
  • COLUMNS
  • SPONSOR INSIGHTS
  • COLUMNS
  • Codes Corner
  • Natalie Forster: Editorial Opinion
  • Guest Editorial
  • MEDIA
  • PODCASTS
  • VIDEOS
  • WEBINARS
  • RESOURCES
  • INDUSTRY CALENDAR
  • DIRECTORIES
  • EBOOKS
  • PM BOOKSTORE
  • CE CENTER
  • MARKET RESEARCH
  • CLASSIFIEDS
  • EMAGAZINE
  • EMAGAZINE
  • ARCHIVE ISSUES
  • CONTACT
  • ADVERTISE
  • PME EMAGAZINE ARCHIVES
search
cart
facebook instagram twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
  • PRODUCTS
  • CONTRACTORS
    • BATH & KITCHEN PRO
    • BUSINESS MANAGEMENT
    • HIGH EFFICIENCY HOMES
    • TECHNOLOGY
    • WATER TREATMENT
    • PMC COLUMNS
      • Dave Yates: Contractor’s Corner
      • John Siegenthaler: Hydronics Workshop
      • Kenny Chapman: The Blue Collar Coach
      • Matt Michel: Service Plumbing Pros
      • Scott Secor: Heating Perceptions
  • ENGINEERS
    • CONTINUING EDUCATION
    • DECARBONIZATION | ELECTRIFICATION
    • FIRE PROTECTION
    • GEOTHERMAL | SOLAR THERMAL
    • PIPING | PLUMBING | PVF
    • PME COLUMNS
      • Christoph Lohr: Strategic Plumbing Insights
      • David Dexter: Plumbing Talking Points
      • James Dipping: Engineer Viewpoints
      • John Seigenthaler: Renewable Heating Design
      • Lowell Manalo: Plumbing Essentials
      • Misty Guard: Guard on Compliance
  • RADIANT & HYDRONICS
    • RADIANT COMFORT REPORT
    • THE GLITCH & THE FIX
  • INSIGHTS
    • CODES
    • GREEN PLUMBING & MECHANICAL
    • PROJECT PROFILES
    • COLUMNS
      • Codes Corner
      • Natalie Forster: Editorial Opinion
      • Guest Editorial
    • SPONSOR INSIGHTS
  • MEDIA
    • PODCASTS
    • VIDEOS
    • WEBINARS
  • RESOURCES
    • INDUSTRY CALENDAR
    • DIRECTORIES
    • EBOOKS
    • PM BOOKSTORE
    • CE CENTER
    • MARKET RESEARCH
    • CLASSIFIEDS
  • EMAGAZINE
    • EMAGAZINE
    • ARCHIVE ISSUES
    • CONTACT
    • ADVERTISE
    • PME EMAGAZINE ARCHIVES
  • SIGN UP!

Week of Oct. 18-26, 2004
Manufacturing, housing get multiple good news; most states add construction jobs

By Ken Simonson
November 1, 2004
Manufacturing received several pieces of good news in recent days that could eventually lead to higher demand for factory construction. On Friday, President Bush signed the American Jobs Creation Act, which will gradually lower the tax rate on domestic “manufacturing”, including most construction, architectural, and engineering services. The law also repeals an export tax break that the World Trade Organization ruled was an illegal subsidy. The European Union had imposed steadily rising tariffs, currently at a 12% rate, on a broad range of manufactured goods, in order to pressure the U.S. to repeal the tax break. On Monday, the EU announced that it would suspend the tariff on January 1, when the repeal takes effect. Also on Monday, the value of the dollar hit a 12-year low against the Canadian dollar and multi-month lows against numerous other currencies, which should make U.S. exports more price-competitive.

The homeownership rate in the third quarter was a seasonally adjusted 68.9% of all households, the Census Bureau reported Monday. That was slightly below the record high of 69.3% in the second quarter but up from 68.3% in the third quarter of 2003. Since the third quarter of 2000, the homeownership rate has grown the most for householders who are less than 35 years old (rising 2 percentage points from 41.1% to 43.1%, vs. a 1.3-point gain overall). That's a favorable omen for homeownership, since this age group will be growing more rapidly than the overall population as baby boomers' children reach adulthood. But the jump in ownership by an age group that historically rented for several years also helps explain why Census said the rental vacancy rate remained high in the third quarter at 10.1%, down slightly from the 10.2% in the second quarter and a record 10.4% in the first quarter but up from 9.9% a year before.

Existing-home sales in September rose 3.1% from August to a seasonally adjusted annual rate of 6,750,000, 1% above the pace in September 2003 and the third-highest on record, the National Assn. of Realtors reported Monday. Housing inventory levels at the end of September rose just 0.4% from August and the supply of unsold houses dipped from 4.6 months in August to a 4.4-month supply at the current sales pace. The national median existing-home price was $186,600, up 8.6% from September 2003. Earlier, Census reported October 19 that the number of building permits issued in September rose 1.8%, seasonally adjusted, from the upwardly revised August total and 3.2% from September 2003. Housing starts dropped 6% for the month, possibly affected by hurricanes and floods, and 1.2% from September 2003. And the National Assn. of Home Builders (NAHB) reported October 18 that its builders' confidence index rose strongly for the month.

Construction employment by state rose in 43 states and the District of Columbia from September 2003 to September 2004, according to Bureau of Labor Statistics (BLS) data released Friday. The biggest gains were in Nevada (12%), Idaho (11%), Utah, and Arizona (both 8%). The only decreases were in Wyoming (-5%), Louisiana (-3%), Michigan (-0.9%), and South Carolina (-0.1%). Two states were unchanged; data are not available for Hawaii. The number of gaining states and the leaders were consistent with total nonfarm employment changes. Nevertheless, 32 states still have lower nonfarm employment than in March 2001, the month the recession began, according to the Economic Policy Institute (www.epinet.org).

Today BLS released information on changes in employment and wages by county for the 317 counties with at least 75,000 employees, which covers 70% of total employment. These figures provide a clue as to where construction opportunities may occur. The largest percentage change in employment from March 2003 to March 2004 occurred in Prince William, Va. (8%), Rutherford, Tenn. (7%), Marion and Lee, Fla., and Placer, Cal. (all 6%). The report provides detail by industry for the U.S. and the 10 largest counties for the number of establishments (separate business locations, not temporary jobsites), employment and percentage change over the previous year, and average weekly wage and percentage change. Nationally, there were 811,500 construction establishments in the first quarter of 2004, with 6.5 million employees in March (up 3.5% from March 2003), earning an average weekly wage of $732 in the first quarter (up 1.4% from a year earlier).

The consumer price index (CPI) for all urban consumers in September rose 0.2% from August, seasonally adjusted, and an unadjusted 2.5% from September 2003, BLS reported October 19. The CPI for urban wage earners and clerical workers (CPI-W), which is used to adjust many wage contracts in construction and other industries, rose 2.4% for the September-September interval. Average hourly earnings in construction rose 1.1% over that span to $19.41 (23% higher than average earnings for all production or nonsupervisory workers). However, after deflation by the CPI-W, constant-dollar hourly earnings in construction were 1.2% lower than a year before. A steep drop in average weekly hours in construction drove down average weekly earnings by 3.2% in current dollars and 5.5% net of inflation.

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Chief Economist, Associated General Contractors of America 703-837-5313; fax -5406; www.agc.org

Recommended Content

JOIN TODAY
to unlock your recommendations.

Already have an account? Sign In

  • Worker using the Milwaukee Tool SWITCH PACK drain cleaner

    Pipeline profits: Drain cleaning, pipe inspection create opportunities

    Drain cleaning and inspection services offer lucrative...
    Green Plumbing and Mechanical
    By: Nicole Krawcke
  • Uponor employee, Arturo Moreno

    The reinvestment in American manufacturing and training

    Plumbing & Mechanical Chief Editor Nicole Krawcke and...
    Plumbing News
    By: Nicole Krawcke and Natalie Forster
  • March 2024 Women in Plumbing hero image of woman engineer overlayed by circle of hexagon shapes with numbers from 1 to 10

    Celebrating 10 Influential Women in the Plumbing Industry

    Celebrating Women's History Month and Women in...
    Plumbing News
    By: Nicole Krawcke
Subscribe For Free!
  • eNewsletters
  • Online Registration
  • Subscription Customer Service
  • eMagazine
  • Manage My Preferences

NIBCO Press Solutions

NIBCO Press Solutions

AI can boost efficiency and profitability for plumbing, HVAC contractors

AI can boost efficiency and profitability for plumbing, HVAC contractors

Bell & Gossett Illustrates Path to Net-zero at AHR Expo

Bell & Gossett Illustrates Path to Net-zero at AHR Expo

IPEX celebrates grand opening of new Florida distribution center

IPEX celebrates grand opening of new Florida distribution center

More Videos

Sponsored Content

Sponsored Content is a special paid section where industry companies provide high quality, objective, non-commercial content around topics of interest to the Plumbing & Mechanical audience. All Sponsored Content is supplied by the advertising company and any opinions expressed in this article are those of the author and not necessarily reflect the views of Plumbing & Mechanical or its parent company, BNP Media. Interested in participating in our Sponsored Content section? Contact your local rep!

close
  • J.J. Keller CMV vehicles on road
    Sponsored byJ. J. Keller & Associates, Inc.

    The dash cam game-changer for small business safety

Popular Stories

Figure 1 is a sketch of the flow problems of the current plumbing system.

Hydronic heating glitch solved: Why adding a circulator won't fix primary loop flow issue

The interior of a government building.

President Trump signs executive order promoting skilled trades and apprenticeships

Underfloor heating installation with drain sewer hole in bathroom close up on water floor heating.

Using hydronics to leverage time-of-use electrical rates

PM BEMIS June 25 Free Webinar: Optimizing Plumbing Solutions for Single-Family, Multi-Family & Public Spaces

Events

November 13, 2024

Future Proofing MEP: Navigating the 2026 High Efficiency Water Heating Standards

Join our deep dive into DOE’s new standards so you can future-proof your MEP practice.

EARN: 0.1 ASPE CEU; 1 AIA LU/HSW; 0.1 IACET CEU*; 1 PDH

View All Submit An Event

Poll

Will business be up or down in 2025?

Do you anticipate business in 2025 to be up or down in comparison to 2024?
View Results Poll Archive

Products

The Water Came To A Stop

The Water Came To A Stop

See More Products

Download the FREE Water Conservation, Quality & Safety eBook: Plumbing Trends Increasing Safe Water Availability

Related Articles

  • GDP, housing sales move up; manufacturing, employment, state taxes show weakness

    See More
  • Nov. 20, 2007 ― Housing, Retail, Factory Construction Indicators Slip

    See More
  • More metros lost than gained construction jobs in last 12 months

    See More
×

Keep your content unclogged with our newsletters!

Stay in the know on the latest plumbing & piping industry trends.

JOIN TODAY!
  • RESOURCES
    • Advertise
    • Contact Us
    • Directories
    • Store
    • Want More
    • Supply House Times
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletter
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey/Respondent Access
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • Instagram
    • YouTube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing

search
cart
facebook instagram twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
  • PRODUCTS
  • CONTRACTORS
    • BATH & KITCHEN PRO
    • BUSINESS MANAGEMENT
    • HIGH EFFICIENCY HOMES
    • TECHNOLOGY
    • WATER TREATMENT
    • PMC COLUMNS
      • Dave Yates: Contractor’s Corner
      • John Siegenthaler: Hydronics Workshop
      • Kenny Chapman: The Blue Collar Coach
      • Matt Michel: Service Plumbing Pros
      • Scott Secor: Heating Perceptions
  • ENGINEERS
    • CONTINUING EDUCATION
    • DECARBONIZATION | ELECTRIFICATION
    • FIRE PROTECTION
    • GEOTHERMAL | SOLAR THERMAL
    • PIPING | PLUMBING | PVF
    • PME COLUMNS
      • Christoph Lohr: Strategic Plumbing Insights
      • David Dexter: Plumbing Talking Points
      • James Dipping: Engineer Viewpoints
      • John Seigenthaler: Renewable Heating Design
      • Lowell Manalo: Plumbing Essentials
      • Misty Guard: Guard on Compliance
  • RADIANT & HYDRONICS
    • RADIANT COMFORT REPORT
    • THE GLITCH & THE FIX
  • INSIGHTS
    • CODES
    • GREEN PLUMBING & MECHANICAL
    • PROJECT PROFILES
    • COLUMNS
      • Codes Corner
      • Natalie Forster: Editorial Opinion
      • Guest Editorial
    • SPONSOR INSIGHTS
  • MEDIA
    • PODCASTS
    • VIDEOS
    • WEBINARS
  • RESOURCES
    • INDUSTRY CALENDAR
    • DIRECTORIES
    • EBOOKS
    • PM BOOKSTORE
    • CE CENTER
    • MARKET RESEARCH
    • CLASSIFIEDS
  • EMAGAZINE
    • EMAGAZINE
    • ARCHIVE ISSUES
    • CONTACT
    • ADVERTISE
    • PME EMAGAZINE ARCHIVES
  • SIGN UP!