Construction's layoffs reach highest level since early in the pandemic – Construction Dive
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Weakness in the single-family homebuilding sector likely accounted for much of the decrease in job openings, Basu said.
Meanwhile, the fact that only about 10% of ABC’s mostly nonresidential members expect staffing levels to decrease over the next six months indicates a positive outlook in the sector for nonhousing-related construction.
“With interest rates elevated and set to rise again at the Federal Reserve’s May meeting, these dynamics should remain firmly in place over the next few months,” Basu said.
At the same time, nonresidential construction spending continues to increase, though that is largely anchored by the manufacturing sector.
A boom in manufacturing projects, spurred by the pivot to onshoring during the pandemic, is benefiting construction and cushioning the blow from other softening markets, according to Stephen Sandherr, CEO of Associated General Contractors of America.
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As construction technology continues to evolve, here’s what savvy contractors need to know.
About one in five construction workers is 55 or older. Failing to recruit and retain labor soon could mean a sudden dearth of experienced workers.
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As construction technology continues to evolve, here’s what savvy contractors need to know.
About one in five construction workers is 55 or older. Failing to recruit and retain labor soon could mean a sudden dearth of experienced workers.
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