Job growth slowed in recent months, but the overall labor market remains tight. In December, total nonfarm payroll employment increased by 223,000, and the unemployment rate ticked down to 3.5%, back to its lowest point before the pandemic. However, in a positive sign for inflation, wage growth slowed to a 4.6% year-over-year gain, the slowest pace since August 2021. Construction… Read More ›
Real gross domestic product (GDP) increased in 47 states and the District of Columbia in the third quarter of 2022 while Indiana, South Dakota, and Mississippi saw modest GDP declines. According to the U.S. Bureau of Economic Analysis (BEA), the percent change in real GDP ranged from 8.7 percent increase in Alaska to 0.7 percent decline in Mississippi. Nationwide, growth in… Read More ›
The count of open, unfilled jobs for the overall economy declined slightly in November, falling from 10.51 million open positions to 10.46 million. This represents a decrease from a year ago (10.92 million), a sign the labor market is slowing in response to tighter monetary policy. The degree of this slowing will be critical for the ongoing downshift in the… Read More ›
Private residential construction spending declined 0.5% in November, as spending on single-family construction plunged 2.9%. Private residential construction spending fell for the six consecutive month, standing at an annual pace of $868 billion. However, this total remains 5.3% higher compared to a year ago. The monthly decline is largely attributed to lower spending on single-family construction, which has also declined… Read More ›
Consumer confidence rose to an eight-month high in December as declining gas prices and easing inflation contributed to more optimistic views of economy. However, spending plans were mixed. Vacation intentions improved, while the intention to buy homes and big-ticket appliances cooled further due to elevated mortgage rates. This shift in consumer preference from goods to services is likely to continue… Read More ›
Effective January 1, 2023, the state of Louisiana has officially adopted the 2021 I-codes and 2020 NEC all with Louisiana amendments effective 1/1/2023.
To view the Louisiana Administrative Codes and Amendments, please click here.
To view the REDLINED Louisiana Administrative Codes and Amendments, please click here.
To view ACT 635 regarding the Energy Code, please click here.
Join us on January 24, 2023 from 3-5PM for an Industry Meeting on the SIGNIFICANT RESIDENTIAL CODE CHANGES with Bill Pousson, Deputy Building Official at the EBR City-Parish. Hosted by Bronze Industry Partner STONE – 7575 Jefferson Hwy., Baton Rouge.
Happy Hour hosted by the Remodelers and Professional Women in Building councils will immediately follow the presentation.
