If contractors had to sum up the prospect of getting work from the recently passed federal infrastructure bill amid continuing labor and supply shortages, many would no doubt say: It’s a good problem to have. Others, of a more skeptical cast of mind, might add: Be careful what you wish for.
The construction industry is still reeling from rapid materials prices increases following the pandemic, even though there are signs of relief ahead. That’s according to Anirban Basu, chief economist for the Associated Builders and Contractors, who spoke about the state ...
The skyrocketing cost of construction materials is filtering down to local businesses like Boys Water Products, provider of products for the water and wastewater industry, including end users such as the Minnesota Department of Transportation.
The cost of materials and services typically used in construction jumped 4,3% in May alone and by nearly 25% between that month and May 2020, according to an analysis by the Associated General Contractors of America.
Speaking on Wednesday at a Daily Reporter Builder Breakfast webinar on “The future of the construction supply chain,” AGC of America Chief Economist Ken Simonson readily acknowledged that the main culprit in all of the supply chain pressure has been COVID-19. But there's more to it than that.
More than a year after the outbreak of the COVID-19 pandemic, the construction industry is faced with unprecedented supply chain disruptions even as the economy at large shows signs of climbing back to where it was before the coronavirus.
Although a steady backlog of work is expected to keep commercial contractors busy in Milwaukee next year, the city’s tight labor market could continue to drive up costs even as an economic slowdown looms, according to a recent report.