New Coronavirus Recovery Measure to Provide Relief for Contractors Coping with Project Cancelations, Falling Demand

  • Posted on

The Associated General Contractors of America’s CEO Stephen E. Sandherr issued the following statement in reaction to the release of compromise coronavirus relief legislation slated for House and Senate votes as early as Dec. 21:   “The new coronavirus recovery measure announced today should provide some needed relief for a construction industry that is coping with project cancellations and job losses in most parts of the country. Most notably, the measure includes $10 billion in needed funding to help address the pandemic-induced shortfalls in state transportation revenues. This new funding should keep a number of road projects from getting canceled … Read more

Filed under: Economic NewsTagged with: , , , ,

Two-Thirds of Metros Shed Construction Jobs from August 2019 to August 2020, AGC Urges Congress to Pass COVID Relief

  • Posted on

Construction employment decreased in 241, or 67%, out of 358 metro areas between August 2019 and last month, according to an analysis of new government data released by the Associated General Contractors of America. Association officials urged Congress to pass new coronavirus relief measures before leaving town.   “Although residential construction is picking up in many areas, public and nonresidential construction are shrinking,” said Ken Simonson, the association’s chief economist. “Project cancellations are spreading, and fewer new projects are starting up. That combination makes further employment declines inevitable unless the federal government steps up support for infrastructure.”   Simonson noted … Read more

Filed under: Economic NewsTagged with: , , , ,