2022 Construction Economic Forecast
After the dramatic pace of economic recovery that characterized 2020’s final eight months and the early months of 2021, economic growth is set to soften in 2022.
State Construction Unemployment Rates Down in 49 States From a Year Ago
The not seasonally adjusted national construction unemployment rate dropped 2.6% in September 2021 from a year ago while 49 states had lower unemployment rates over the same period.
Not Pandemic-Proof: The Ongoing Impact of COVID-19 on the Commercial Construction Industry
Despite challenges in scheduling, manpower and permitting, which affected pricing, the construction industry is moving forward as companies maneuver through uncertain times.
Investment in Nonresidential Structures Falls 7.3% in Third Quarter of 2021
Investment in nonresidential structures contracted at an annual rate of 7.3% during the third quarter of 2021 and has now contracted during seven of the past eight quarters, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Economic Analysis.
Insurance Rates: What to Expect in 2022
As insurance underwriters become more selective and add restrictive endorsements, contractors should negotiate terms before renewal or find a broker who understands the market and construction.
Input Prices Decline in September but Remain Higher on a Yearly Basis
Construction input prices declined 0.5% in September, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data.
How to Address the Four Biggest Staffing Issues In Construction Industry
The construction sector in the United States is a booming industry that is facing a surge in demand following the global pandemic. Yet, business leaders in this sector have been facing recurring human resource management challenges.
ELFA 2021 Survey of Equipment Finance Activity Reveals New Business Volume Declined 7% in 2020
2020 marked the first time in a decade that businesses decreased their overall spending on capital equipment, according to the SEFA. However, the 7% decline was less than the double-digit drop expected by the COVID-19 pandemic.
