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 ›

Nexton is a 5,000-acre, mixed-use community in the heart of Charleston’s growth corridor. At inception, it was intended as an eco-friendly and sustainable community that improves the lives of those who live and work here; and the commuters and guests that pass through. Nexton’s road network is engineered to take cars off local roads and onto the highway by way of Nexton Parkway, which was developed via a public-private partnership. Storm water is also a top priority, so the builders…

The powder room is a great place to incorporate textures and natural elements, while maintaining the clients’ vision. Their vision for this home was reimagined mountain architecture; the design team blended natural elements such as hand-carved marble walls, a hand-scraped walnut vanity, and stone sink. The ingenious design makes use of floor-to-ceiling antiqued mirrors, custom tiles and distinctive texture on the floating vanity. A cluster of blown-glass pendants accentuate textures within the space, creating depth and shadows. An industrial-style faucet…

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 ›

The objective was to squeeze an off-campus student housing community onto a tight infill parcel, while offering an urban vibe that will attract students looking for an energized living experience. Constraints included a narrow, acre parcel, pinched unit layouts and corridor spaces, effectively manipulating the building form differently on each floor to respond to programming needs. The team created a sleek European-style building form and action-oriented elevation design evoking a sense of motion with contrasting blocks of color and building…

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 ›