Construction Employment Declines as Material Costs Soar
According to recent data from the Associated General Contractors of America, construction employment in May remained below April’s level in 40 states and the District of Columbia. The AGC says skyrocketing material prices as well as excessive delays in receiving construction supplies were holding back the industry’s recovery. The largest declines occurred in New York, Illinois and Pennsylvania. Indeed…
“Today’s numbers show that impacts from the pandemic on demand for projects and on materials costs and the supply chain are weighing down construction in most parts of the country…In the few states where industry employment has topped the pre-pandemic levels of February 2020, most gains are likely attributable more to demand for homebuilding and remodeling than to most categories of nonresidential building and infrastructure projects.” Said Ken Simonson, the AGC’s chief economist.
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