Construction Industry in US, Canada Poised for Growth

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After a year of stabilization, the construction industry in the U.S. and Canada is positioned for success in 2024, thanks to strong demand and as the normalization of supply chains and material prices continue. JLL’s new U.S. and Canada Construction Trends 2024 forecast explores the opportunities and challenges facing the construction industry in the year to come. “The industry is ready to successfully meet the challenges of 2024,” said Todd Burns, president, Project and Development Services, Americas, JLL. “With immense housing needs, return to office strengthening and federally backed infrastructure and manufacturing accelerating, the industry is poised for growth despite … Read more

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Culture in Construction: Why it Matters + How to Make it Better

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By Association of Equipment Managers Staff There is a labor shortage in the construction industry – and it’s not exactly breaking news. Headlines declare that “nobody wants to work anymore” – but is this explanation really at the root of what’s a longstanding, industry-wide issue? Amid the “Great Resignation,” as baby boomers retire and Gen Z workers reject the long hours of the construction industry, it’s more important than ever to examine the causes of this unprecedented labor shortage and explore potential solutions. Numerous companies are feeling the pressure, especially in the skilled trades, and many have not yet been … Read more

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Construction Outlook 2023: Smart Management Will Help Counter Profit Squeeze

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By Sean Clements Contractors that invest in the future, and keep a firm hand on the various risks that keep pressure on the construction industry, will be in the best position to weather the continuing business and economic uncertainties in 2023. Supply of materials and skilled workers are still under pressure, and more expensive, too, with inflation. Fears of a looming recession are a major damper, especially when combined with interest rate hikes that are driving up the cost of borrowing. Add spiking insurance rates to the mix, and it’s causing many projects to be put on hold or canceled … Read more

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ABC’s Construction Backlog Inches Higher in May, Materials + Labor Shortages Suppress Contractor Confidence

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Associated Builders and Contractors reports that its Construction Backlog Indicator rose to 8.0 months in May, according to an ABC member survey conducted from May 20 to June 2, 0.1 months higher than in April 2021 and May 2020. While ABC’s Construction Confidence Index readings for sales increased modestly in May, confidence regarding profit margins and staffing levels slipped. All three indices remain above the threshold of 50, indicating expectations of growth over the next six months. “Nonresidential construction backlog continues to edge higher, consistent with expectations that sales, profit margins and staffing will expand over the next six months,” … Read more

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Build Your Future Arizona Levels Playing Field for Careers in Construction

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With a focus on empowering people to build their future, Build Your Future Arizona was established through a private-sector, industry-driven campaign of the Greater Phoenix Chamber Foundation in partnership with the national Build Your Future initiative. BYF Arizona showcases the incredible opportunities available for people to find fulfilling, high-paying careers in the construction professions — careers that can be started right out of high school, with minimum training, and allow for earning money while you learn. The campaign is led by a steering committee made up of representatives from the more than 35 construction businesses that have invested over two … Read more

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