CONSTRUCTION INDUSTRY TRENDING UPWARD IN Q1
Rider Levett Bucknall, a project management and construction cost consulting firm, has released its 2021 Quarterly Cost Report for Q1 2021 and a biannual Crane Index report for North America. According to the QCR, cost escalation for the industry is back on track, hitting 1% for the quarter (4% annualized). This is despite upwardly trending materials costs, which will also be affected by COVID-19 recovery and President Biden’s infrastructure agenda.
According to the U.S. Department of Commerce, construction-put-in-place during January 2021 was estimated at a seasonally adjusted annual rate of $1,521.5 billion, which is 1.7% above the revised December 2020 estimate of $1,496.5 billion, and 5.8% above the January 2020 estimate of $1,437.7 billion.
Further, while the incoming infrastructure projects will put strain on materials supplies, it will also offer a chance of recovery for the industry, says RLB. This first quarter is an indication that things are already turning around. Visit rlb.com/americas to access the reports.
WORLD OF CONCRETE GETS THE GO-AHEAD
The Nevada Department of Business and Industry has sent approval to Informa Markets, the organizers of World of Concrete, for the June 8-10 event to commence in-person. Informa Markets has been working in tandem with the event’s location—the Las Vegas Convention Center—and Informa AllSecure—a set of measures developed by industry stakeholders—to submit a detailed health and safety plan, outlining specific protocols and communication strategies, which include mandatory face masks and temperature checks.
According to a survey of past attendees conducted to ensure that an in-person conference is valued by the community at-large, 80% of respondents said they were likely to attend the June meeting, and 97% said the decision to host the event is favorable to the industry. Visit worldofconcrete.com for more news and updates.
AMAZON WORKER UNIONIZATION EFFORTS STILL ONGOING
On April 9, Amazon workers at a facility in Bessemer, Alabama, voted against unionizing, with 1,798 votes against and 738 votes in favor of the union. The election—which ran through March 29—is not over, however. After multiple objections by The Retail, Wholesale and Department Store Union, including threats to workers and an inhospitable voting environment, these legal challenges are likely to land first in front of the regional National Labor Relations Board, then in Washington for appeal from either party.
PAYCHECK FAIRNESS ACT PROCEEDS TO SENATE
The U.S. House of Representatives passed the Paycheck Fairness Act, which seeks to eliminate the gender pay gap and strengthen workplace protections for women, on April 15. Opposition to the bill includes concerns that it could threaten bonuses, prohibit negotiation for higher pay and make class-action suits easier. Supporters of the bill emphasize protections, such as the ability to discuss salary without retribution, as well as pay transparency from employers and a potential (long-term) economic boost.
Associated Builders and Contractors has published comments against the legislation, and maintains that such government intervention into the workplace could have devastating effects on how workers in the industry are paid.
MICHIGAN’S WATER INFRASTRUCTURE ACQUIRES MUCH-NEEDED FUNDING
The Michigan legislature is moving forward with a package of historic, bipartisan legislation. Sponsored by state Sens. Rick Outman and Paul Wojno, as well as state Reps. Jim Lilly and Kevin Hertel, the $500 million investment will rebuild the state’s water infrastructure without raising taxes.
Known as the MI Clean Water plan, the initiative will also provide 7,500 jobs and, eventually, clean drinking water to underserved communities in Michigan, where residents are surrounded by 21% of the world’s fresh surface water, but are often unable to trust lead-laden service lines, undersized sewers, toxic contamination and other constraints to this natural boon.
The plan includes $207 million in investments directly related to clean drinking water and $293 million in investments related to wastewater management—both drastically necessary according to the Michigan 21st Century Infrastructure report, which revealed an estimated $800 million annual gap in water and sewer infrastructure needs.
MULTI-GENERATIONAL LIVING IS NOT ONLY COMMON—IT IS INCREASINGLY POPULAR
By the end of 2020, one in three 18- to 34-year-olds were living with their parents, illustrating the statistical rise in multi-generational living over the past half-century. This trend has only been aided by remote work, the increased cost of living, as well as unemployment rates—the latter of which skyrocketed last year due to the COVID-19 pandemic. Per STORAGECafé, multi-gen living has risen from 27.3% in 2007 to 32.7% as of a report conducted in 2021.
Other findings include:
- Hawaii, California and Texas have the highest share of multi-gen households.
- There are approximately 4.7 million multi-generational households (with at least three generations) in the United States.
- California’s Oxnard-Thousand Oaks-Venturametro area has the highest incidence of multi-gen living in the country among 18- to 34-year-olds, 50%; at the other end of the spectrum, Madison, Wisconsin, has the lowest rate of multi-gen living, at 18%.
