Vol. 23, No. 13 April 3-7, 2023Employment dips in March; job openings remain near February record; hourly, executive pay climb  Construction employment  Construction employment, seasonally adjusted, totaled 7,888,000 in March, a decrease of 24,000 from the downwardly revised February total but an increase of 196,000 (2.5%) year-over-year (y/y), according to AGC’s analysis of data the Bureau of Labor Statistics (BLS) posted today… Read more Job openings in construction  There were 384,000 job openings in construction, not seasonally adjusted, at the end of February, a decrease of 4,000 (-1%) y/y from the all-time February high of 388,000 in 2022, BLS reported on Tuesday in its monthly Job Openings and Labor Turnover Survey (JOLTS) release… Read more Contractor compensation expectations  “Contractors are projecting a 2023 executive increase of 4.7%,” following a 2022 increase of 5.5%, construction data provided PAS reported on March 28 in its latest Contractor Compensation Quarterly… Read more Economic activity in the service sector“Economic activity in the services sector expanded in March for the third consecutive month,” the Institute for Supply Management reported on Wednesday. Construction (including homebuilding) is among 14 sectors (out of 18) that reported increased business activity, along with paying higher prices for materials and services (13 sectors), growth in new orders (12), employment growth (11), faster supplier deliveries (10), and growth in order backlogs (5)… Read more Construction spendingConstruction spending (not adjusted for inflation) totaled $1.84 trillion in February at a seasonally adjusted annual rate, down 0.1% from the upwardly revised January rate and up 5.2% y/y, the Census Bureau reported on Monday… Read more