RALEIGH, N.C. — Surveying members of the Construction Personnel Executives Group, FMI reports, “24 percent of respondents will be unable to bid more work and 32 percent will experience slow growth if their companies cannot reasonably meet the need for skilled labor and tradespeople.” Top executives at the largest contract firms in the U.S. took part in the survey. “Overall, there's an increase needed in skilled trade workers of more than 10 percent throughout the next three to 10 years,” says Ken Wilson, director for FMI, citing highlights from survey participants. One large construction company says, “Our current hiring forecast … Read more

Since the start of 2014 the market has been steady but fragile. Material costs and labor hourly rates increased by 2 percent in 2014, and as of now are predicted to continue to grow at that rate per year. Contractor's overhead and profit margins remained competitive, but are showing signs that they will increase in 2015. Operating costs, market conditions, escalation and labor shortages will have an effect on their overhead and profit, providing challenges as to how to remain competitive in 2015.   The drop in fuel pricing gave a boost to year-end reports for 2014. Confidence continues to … Read more