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US payrolls add 661,000 jobs; unemployment rate falls to 7.9%
Seth Sandronsky Business Management, Services & Risk ManagementAmerican employers created 661,000 nonfarm jobs in September after hiring 1.4 million workers in August, according to the federal Bureau of Labor Statistics. September’s jobless rate dropped to 7.9% from 8.4% in August. The jobs numbers reflect in part the easing of social restrictions and reopening of businesses to stem the spread of COVID-19. However, government employment, mainly in public education at the state and local levels, dropped in September from August.
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Report: 39% of contractors say it’s business as usual during COVID-19
Justin Gitelman Construction & Building MaterialsAccording to a new Construction Payment Report from Levelset, more than 1 in 3 contractors say they have yet to change any of their business practices in response to COVID-19. The report is based on a Levelset survey of more than 600 construction professionals, conducted in August 2020. In the months following its initial outbreak, the coronavirus pandemic upended the construction industry across the country, shutting down or delaying projects. Even where construction was considered an essential service, contractors faced financial strain from stalled funding and slow payments.
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Shrinking inventories rein in booming home sales
Michael J. Berens Construction & Building MaterialsHome sales in August eased back to a more normal pace after hitting record-setting levels in June and July. So far, the market has recovered quickly from the spring slump caused by the onset of the coronavirus pandemic and is now well ahead of last year’s gains. High demand, however, has significantly cut into the short supply of homes for sale, producing a drag on the market that is likely to linger throughout the remainder of the year.
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A new era for Salt Lake City International Airport
Matt Falcus Travel, Hospitality & Event ManagementSalt Lake City (SLC) International Airport has entered a new era with the opening of its new airport terminal, replacing aging older structures that had become increasingly unable to cope with demand and today's expectations. But is this the worst possible time to open a new airport terminal and expand capacity? Overnight on Sept. 15, the existing terminals 1 and 2, plus the International Terminal and associated parking garages at SLC closed, replaced by the new central terminal and initial Concourse A-West, which opened at the same time.
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How to build an eco-friendly, sustainable brand through green tech
Nick Shaw MarketingAs we move further into the digital age, consumer groups are increasingly composed of millennials and Gen-Z buyers. These generations not only bring with them a switch to online mass consumerism but also an environmentally conscious target audience. This audience looks for brands with eco-friendly and sustainable ethics. It’s not enough to be aware of general e-commerce trends — you need to dedicate time to becoming eco-friendly.
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Can digital manufacturing change the future?
Bambi Majumdar ManufacturingThe recent unveiling of Alibaba's new digital factory is making waves in the manufacturing world. Data and insights form the core of its operations. The factory's debut has come at an opportune time, as manufacturers are describing digitizing as an essential element for growth. Over the last 10 years, the sector has adopted a collection of disruptive technologies, though adoption hasn't been uniform or as widespread as needed. These include robotics, the Internet of Things, machine learning, artificial intelligence and 3D printing, among others.
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The new commercial real estate reality: Office spaces after the pandemic
Adrian Farren Business Management, Services & Risk ManagementThe effects of the pandemic have created a bleak outlook for the commercial construction sector: nonresidential construction spending in the U.S. fell 1.2% in July and predictions indicate that commercial vacancy rates will rise to 20.2% by 2022. These changes have been caused by new regulations, dictating how we work, shop and exist in public places. With no clear end in sight to the pandemic, all construction stakeholders need to reimagine how office spaces can function in this new commercial real estate reality.
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How colleges are spreading COVID-19
Patrick Gleeson EducationMost of the attention and controversy over school attendance in the midst of the COVID-19 pandemic these past couple of months has been focused on K-12 classrooms. Less attention has been paid to college policies. That’s too bad, because it’s now becoming clear those same policies are likely to spread COVID-19 back into many of those students’ home communities.
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Safety practices for the construction site during the COVID-19 pandemic
Rachel Porter Construction & Building MaterialsTo safeguard themselves against financial losses and ensure their business stays afloat, contractors often invest in contractors insurance. Nowadays, they have to protect themselves against another unseen threat — COVID-19. Understandably, dependable contractors want to prove they can work safely and avert the spread of COVID-19 as they provide much-needed income and support the nation's critical infrastructure. After all, the construction industry employs close to 11.2 million people in the United States alone.
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Remodeling activity rebounds, but for how long?
Michael J. Berens Construction & Building MaterialsEven though a large portion of homeowners are undertaking do-it-yourself home repair and improvement projects, demand for professional remodeling services rebounded in the second quarter. Business conditions appeared to be improving further in the first half of the third quarter as well. Come the fourth quarter, however, business may very well begin to taper off, initiating a downward trend that will stretch into the middle of next year and possibly longer.
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