The Business Roundtable has launched a Skilled Trades Initiative to address U.S. labor shortages by promoting careers in high-demand fields like construction, manufacturing, maintenance and energy. Spearheaded by CEOs such as Marvin Ellison (Lowe’s) and David Gitlin (Carrier), the program partners with companies, experts and nonprofits to create resources, training, and tools aimed at strengthening the industrial and construction workforce. Read More
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April Private Residential Construction Spending Dips
Private residential construction spending declined for the third month in a row in April, driven by drops in single-family construction and home improvement projects. Compared to a year earlier, total residential spending was down 4.8%, with single-family spending falling 1.1% in April—ending a seven-month growth streak—and multifamily spending down 11.3% year-over-year. Elevated mortgage rates, material tariff concerns, and broader economic uncertainty continue to weigh heavily on the housing sector. Read More
Read MoreHomeowners spend on renovations despite the uncertain economy
Despite broader economic uncertainty, U.S. homeowners are continuing to invest in home renovations. Sales at building materials and garden supply retailers rose 0.8% in April from March, marking the largest gain since 2022. However, the cost of home repairs and remodeling climbed nearly 4% in the first quarter from a year earlier, primarily due to rising labor costs. According to the Trumbull Times, “Home Depot said Tuesday that it doesn’t expect to raise prices because of tariffs, saying it has spent years diversifying the sources for the goods on its…
Read MoreAging-in-Place Remodeling Work Fell
In the first quarter of 2025, only 56% of professional remodelers reported undertaking projects designed to allow homeowners to age in place (AIP), which marked the lowest percentage since the National Association of Home Builders (NAHB) began tracking this data in 2004. This decline is due to economic uncertainties, high interest rates, and stock market volatility, which have dampened consumer spending and investment in home modifications. However, awareness of AIP concepts remains high, 98% of remodelers noting that most or some of their clients are familiar with AIP. According to…
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