Core Insights - Employment in the U.S. private sector declined by 32,000 jobs in September, indicating a faster-than-expected cooling of the job market [2][5] - This decline is the largest since March 2023 and is significantly below the Dow Jones consensus of an increase of 45,000 jobs [2][3] Employment Trends - Job losses were widespread across various industries, with notable declines in leisure and hospitality (19,000 jobs), professional and business services (13,000), transportation and utilities (7,000), and construction (5,000) [3] - Education and health services added 33,000 jobs, but overall job losses overshadowed this gain [3] Data Integrity Concerns - ADP reported a higher-than-normal number of missing or redacted values in the data set received from the Bureau of Labor Statistics, which affected the granularity of the benchmark calculations [4] - The preliminary estimate from the QCEW suggested a record decline of 911,000 jobs over the 12 months ending in March [4] Federal Reserve Implications - The ADP report may be the last jobs data available to the Federal Reserve before its next meeting on October 28, with expectations of the unemployment rate remaining at 4.3% [5] - The Fed has indicated a weakening labor market, with rising unemployment and inflation above the 2% target influencing recent interest rate cuts [6] Consumer Sentiment - Consumer confidence regarding job availability has declined, with only 26.9% of consumers finding jobs to be "plentiful," the lowest since February 2021 [6] - There has been a significant drop in Americans' views of their current financial situation, marking the largest monthly decline since data collection began in 2022 [6]

This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. Dive Brief: Contractors are planning to invest in artificial intelligence but actual adoption rates don’t match those aspirations, according to a new report from the Royal Institution of Chartered Surveyors on AI in construction. Based in London, RICS used the survey responses of more than 2,200 professionals worldwide with 10% of respondents hailing from ...

Core Viewpoint - Southland Holdings, Inc. has been awarded two projects totaling approximately $130 million, indicating strong business growth and opportunities in the infrastructure sector [1] Project Details - The first project is a bridge rehabilitation for a private client located in the Pacific Northwest, executed through its subsidiary, American Bridge Company [1] - The second project involves a water resource initiative in the City of Austin, Texas, managed by its subsidiary, Oscar Renda Contracting [1]

Core Insights - The Hudson Tunnel Project (HTP) is a significant infrastructure initiative in the U.S., awarded a $665 million contract extension to MPA Delivery Partners for continued management [1][2] - The project is expected to create over 95,000 jobs and generate more than $19 billion in economic activity, benefiting various U.S. suppliers [2] - The HTP is on schedule for completion of the new Gateway Tunnel by 2035 and rehabilitation of the existing tunnel by 2038 [2][3] Project Overview - The HTP involves constructing a new two-tube rail tunnel under the Hudson River and rehabilitating a 115-year-old tunnel, along with nine miles of new passenger rail track [3] - This project is part of the Gateway Program and is considered the most urgent rail infrastructure project in the U.S., aimed at improving passenger rail service and enhancing reliability [3] Economic Impact - The project is anticipated to accelerate economic prosperity and growth across the country while improving the reliability of regional and national rail networks for NJ TRANSIT and Amtrak [3] - The collaborative delivery model used by MPA has a proven track record for efficiently delivering large-scale infrastructure projects with socioeconomic benefits [4]

Core Insights - Golden Triangle Ventures, Inc. has launched a construction subsidiary, GoldenEra Development, which has secured a significant residential development project in Austin, Texas valued at over $750,000, indicating strong revenue potential early in its operations [1][3] Company Overview - Golden Triangle Ventures, Inc. operates across multiple industries, including Construction, Health & Beverage, and Manufacturing & Distribution, aiming to provide operational excellence and innovative solutions for long-term growth [4] Market Context - Austin is identified as one of the fastest-growing real estate markets in the nation, with increasing demand for housing, presenting substantial opportunities for builders capable of executing large-scale projects [2] Future Outlook - The residential development contract is seen as the beginning of a robust pipeline of opportunities for GoldenEra Development, with additional projects under review that are expected to contribute to recurring revenue and long-term value for Golden Triangle Ventures [3]

You don't think we have enough skill skilled labor. I mean, interestingly, Hyundai obviously was effectively importing its own labor at one point. >> Yes.Oh, no. It's unbelievable how chronic the shortage of of skilled labor is in this country. We don't have vocational schools.There's no apprentice programs. Um, this is a huge crisis at the country. If you ask your local plumber and electrician, you know, who is their next generation.They'll say, I don't know. And we have to solve that problem. These are sm ...

Core Insights - Data center construction is experiencing significant growth in the U.S., with major investments from companies like Apple and CoreWeave [2] - The complexity of data center projects arises from their unique power and utility requirements, as well as supply chain and labor challenges [4][7] - Fast-track delivery has become the norm in the industry to meet the rising demand for artificial intelligence, but it increases risks for contractors [7] Industry Trends - Contractors are facing a surge in early-stage activity despite concerns about a potential slowdown in the market [2] - Major contracts, such as Apple's $20 billion investment in Pennsylvania and CoreWeave's $6 billion facility, highlight the scale of current projects [2] - The use of engineering, procurement, and construction contracts or turnkey models simplifies ownership but places a heavier burden on contractors [5] Regulatory and Safety Considerations - Data center projects are subject to extensive regulations, including fire codes and permitting issues, complicating contract adherence [6] - The fast-paced nature of construction increases the potential for mistakes, particularly in remote locations where specialized labor is scarce [7] - Safety is a critical concern, especially when dealing with high voltage and fast-track projects, necessitating operational excellence [8]

[Music] Stocks our strategists feel are poised to deliver positive returns are featured now in their top stock picks of the week. Welcome to today's top stock pick. I am Jeremy Mullen alongside Ben Reigns who will have his pick shortly.But first, we will be doing Zoom Communications, ticker symbol ZM. Now, this is the popular cloud-based video conferencing company that many of us used during the pandemic. We might not have great memories of that, but it sure helped the stock out, which went from $70 to $588 ...

Core Insights - The U.S. IPO market is experiencing a modest scale with more companies entering, highlighted by a recent IPO and several SPACs debuting [1] - Megan Holdings, a Malaysian aquaculture service provider, priced its IPO at the lower end of its range, raising $5 million with a market cap of $65 million [1][2] - The week saw significant fundraising from SPACs, with Drugs Made In America Acquisition II raising $500 million, and other SPACs led by notable figures like Chamath Palihapitiya and Tom Lee also securing substantial amounts [1][2] IPO Activity - Megan Holdings (MGN) raised $5 million with a market cap of $55 million, showing a first-day return of +21% [2] - American Acquisition A (AEXA) raised $300 million, with a first-day return of +6% [2] - FutureCrest Acquisition (FRCS.U) raised $250 million, achieving a first-day return of +4% [2] - Emmis Acquisition (EMISU) raised $100 million, with no first-day return [2] - Drugs Made In America Acquisition II (DMIIU) raised $500 million, with a first-day return of +10% [2] Upcoming IPOs - Fermi (FRMI), a newly established REIT, plans to raise $500 million with a market cap of $13 billion, focusing on a large-scale data center project [5] - Neptune Insurance (NP) aims to raise $350 million with a market cap of $2.8 billion, providing data-driven insurance products [5] - Commercial Bancgroup (CBK) plans to raise $100 million with a market cap of $367 million [6] - HW Electro (HWEP) is set to raise $17 million with a market cap of $16.9 million [6] Initial Filings - Six IPOs submitted initial applications, including HCI Group Exzeo (XZO) seeking $100 million and Ethos Technologies (LIFE) also targeting $100 million [2][4] - Other companies filing include YCS Group Holdings (YCSG.RC) for $14 million, PressLogic (PLAI) for $12 million, Seahawk Recycling Holdings for $10 million, and CSC Collective Holdings for $7 million [2][4] SPAC Filings - Three SPACs filed initial applications, including Lafayette Digital Acquisition I seeking $250 million, Climate Transition Special Opportunities SPAC I aiming for $150 million, and Creative Future Acquisition targeting $60 million [3][4]

Earnings Expectations - Carnival Corp (NYSE: CCL) is expected to report quarterly earnings of $1.32 per share on revenue of $8.10 billion [2] - Progress Software Corp (NASDAQ: PRGS) is anticipated to post earnings of $1.30 per share on revenue of $240.11 million [2] - Jefferies Financial Group Inc (NYSE: JEF) is projected to report quarterly earnings of 80 cents per share on revenue of $1.92 billion [2] - Vail Resorts Inc (NYSE: MTN) is expected to report a quarterly loss of $4.75 per share on revenue of $273.91 million [2] Stock Movements - Carnival shares increased by 0.1% to $30.65 in after-hours trading [2] - Progress Software shares rose by 0.4% to $42.20 in after-hours trading [2] - JFB Construction Holdings (NASDAQ: JFB) shares surged by 95.5% to $13.39 following a $44 million private placement announcement [2] - Vail Resorts shares gained 0.6% to $148.58 in after-hours trading [2] - Jefferies Financial shares slightly declined to $66.70 in after-hours trading [2]