5 min read

Construction spending outpaces forecasting

Plus: A federal anti-harassment guide.
Construction spending outpaces forecasting
Photo by Scott Blake / Unsplash

Construction spending has outpaced forecasts, according to a recently released report from the U.S. Dept. of Commerce. So what does it mean for 2025 spending? We'll delve in today, but first: Check out this new $3 million spaceport construction project on a remote island. 

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Here's a peek at what's in today's issue:
// How questions and mistakes lead to innovation
// Tips for better performance assessments
// New federal contractors' anti-harassment guide
// Strategies for balancing work, family and the holidays

Trade Secrets
QUICK HITS

>> Who we're following:  Tiffany Tucker (@highlightertiff) on TikTok. This project manager and consultant covers everything from contract clauses you actually need to read to behind-the-scenes content. 

 >> What we're listening to:  The Construction Disruption podcast. The most recent episode explores CERLOS, a new sustainable material made from forestry and agricultural fibers.

 >> What we're watching:  Lessons on innovationIn his recent TEDTalkIntuit "intrapreneur" Dave Raggio explained why asking dumb questions and embracing mistakes propels innovation.

>> Just for fun: Cool photos of nature. Research shows looking at pictures of nature calms us. Review the stunning honorees in this year's Nature's Best Photography Awards.

Trade Secrets
SPOTLIGHT

Building Boom: Construction spending outpaces forecast

The U.S. Dept. of Commerce announced Monday that construction spending set a new high in October, rising to $2.17 billion. That's a 0.4% rise, twice the forecasted growth and above the 0.1% charted in September. Year-to-date spending is $1.81 billion, 7.2% higher than this time last year. Data center and manufacturing projects boosted the increase, with an an assist from private single-family home-building (+0.8%) and multifamily construction (+0.2%). Despite the residential uptick, supply there continues to lag demand. Declines were charted in highway (-0.7%) public (-0.5%) and educational (-0.4%) construction spending.

Why it matters: Demand for industrial and housing continues to be strong and is expected to continue into the New Year. Companies specializing in highway, public and educational projects will stay frugal and fiesty to manage bottom-line issues in 2025. (Floor Daily)

Punchlist
THE PUNCHLIST

>>  Newark Airport's new elevated rail line announced

>>  Hurricane Milton may tank Rays stadium deal

>>  Can differentiation counteract a multifamily glut?

>>  Production of energy-efficient Neopore to increase

Blueprint
THE BLUEPRINT

Retool Reviews: How to do better assessments

'Tis the season for year-end reviews. Whether you've got to do performance assessments now or sometime next year, these tips can help make the experience better for you and your crew.

"Yearly reviews shouldn’t just center on what an employee has done well or could have done better over the past 12 months," writes Ragan editor Sean Devlin. They also create an opportunity to look ahead.

  • Identify areas of improvement. Based on the review, pinpoint one or two skills or habits that need improvement. Be as specific as possible.
  • Go over goals. This is also a good time to review the company's and division's goals and how the employee contributes to those. This gives them a sense of purpose and value to the company. Ask them about their job and career goals, too.
  • Specify steps. For improvement and goals, define each item clearly, identify actionable steps you and they will take and create meaningful benchmarks to mark progress.

Why it matters: "These reviews are crucial to illuminate a growth path for your direct reports," Devlin notes. "By opening lines of communication and encouraging honest and transparent dialogue, a yearly review can become much more than just an opportunity to discuss room for improvement and salary numbers." (Ragan)

Permit Zone
COMPLIANCE CORNER

Bad Behavior: New federal contractors' anti-harassment guide

You hear a lot about harassment, but what is it exactly? If you're a U.S. government contractor, you need to know.

According to the U.S. Department of Labor's Office of Federal Contract Compliance Programs (OFCCP), it's "Unwelcome conduct that is based on a protected characteristic" that can be physical, verbal or visual. It becomes unlawful discrimination if it is "so frequent or severe that it creates a hostile or offensive work environment or if it results in an adverse employment decision (such as the victim being fired or demoted)."  Some examples include:

  • Racial slurs and nicknames
  • Derogatory remarks about someone’s national origin, race- or color-related physical features, or their sexual orientation or gender identity
  • Sexual advances 
  • Criticism of someone's participation in a job or industry because they are deemed to not belong because of their sex

To avoid and address harassment on the site or in the office, the OFCCP issued A Guide to Combatting Harassment in the Construction IndustryIt outlines OFCCP’s jurisdiction in the construction industry, defines harassment and includes guidelines for federal construction contractors and subcontractors, and federally assisted construction contractors.

Why it matters: Federal construction contractors must follow regulatory obligations around harassment, including ensuring and maintaining a harassment-free working environment. (U.S. Department of Labor)

THE TOOLBOX

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The Level is written by Margot Lester and edited by Katie Parsons.