Construction Firms Foresee Growing Demand for Most Project Types, Reports AGC

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Construction contractors expect increasing demand for numerous types of projects in 2022 despite ongoing supply chain and labor challenges, as most firms plan to add workers this year, according to survey results released today by the Associated General Contractors of America and Sage. The findings are detailed in Expecting Growth While Coping with the Lingering Impacts of the Pandemic: The 2022 Construction Hiring & Business Outlook. “Contractors are, overall, very optimistic about the outlook for the construction industry in 2022,” said Stephen E. Sandherr, the association’s CEO. “While contractors face challenges this year, most of those will be centered on … Read more

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Construction Industry Outlook 2022 E-Book Available

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After a challenging couple of years, the economy is on the mend. Growth is projected into 2022 as total starts are estimated to reach 6% to $946 billion. This e-book explores the following core sectors: • Residential construction: Single-family and multi-family housing • Commercial construction: Retail stores, warehouses, offices and hotels • Institutional building: Education, healthcare, transportation, recreation and public buildings • Manufacturing construction • Nonbuilding construction: Streets and bridges, environmental/ water public works, electric power/utilities and other non-building Get the latest forecasts and insights.

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Material Prices Soar 20% in 2021, Most Contractors in Association Survey List Costs as Top Concern in 2022, Reports AGC

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Prices of construction materials jumped nearly 20% in 2021 despite moderating in December, according to an analysis by the Associated General Contractors of America of government data. Association officials said contractors rate materials costs as a top concern for 2022, according to a survey predicting the industry’s outlook for the industry the association just released. “Costs may not rise as steeply in 2022 as they did last year but they are likely to remain volatile, with unpredictable prices and delivery dates for key materials,” said Ken Simonson, the association’s chief economist. “That volatility can be as hard to cope with … Read more

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Construction Jobs Exceed Pre-Pandemic Level in 18 States, D.C., Says AGC

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Only 18 states and the District of Columbia have added construction jobs since just before the start of the pandemic in February 2020 despite a pickup in most states from October to November, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said one reason employment is below pre-pandemic levels in many parts of the country is the lack of available workers to hire. “Construction activity has picked up in recent months but still has not reached the employment levels of early last year in most of the country during … Read more

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ABC Construction Backlog and Contractor Confidence Rebound in November

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ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels increased in November. All three indices stand above the threshold of 50, indicating expectations of growth over the next six months. Associated Builders and Contractors reports that its Construction Backlog Indicator rose to 8.4 months in November, according to an ABC member survey conducted Nov. 19 to Dec. 3. The reading is up 0.3 months from October 2021 and 1.2 months from November 2020. “It’s getting better out there,” said ABC Chief Economist Anirban Basu. “While the outlook for construction remains imperfect, extraordinarily low interest rates have created … Read more

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