Total construction spending edged down 0.1 percent in May as spending on new houses and apartments stalled, while public and private nonresidential construction slumped, according to an analysis the Associated General Contractors of America released today of federal spending data. Association officials said the construction industry鈥檚 capacity to build projects was being limited by workforce shortages and supply chain problems.
鈥淐ontractors say demand remains strong for nonresidential projects but they are having trouble both getting materials on time and hiring enough workers,鈥 said Ken Simonson, the association鈥檚 chief economist. 鈥淭he industry鈥檚 unemployment rate was down to 3.8 percent in May, a sign of how scarce experienced workers are.鈥
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