Share this on FacebookJune 18th, 2020 | by NEWCA
According to a new survey from the Associated General Contractors of American (AGC), construction companies’ activities are returning to pre-Coronavirus levels. The survey agrees with data from construction technology firm Procore that shows similar findings.
“Many of the immediate economic impacts of the coronavirus have passed and, as a result, activity and hiring are up, a bit,” said Ken Simonson, the association’s chief economist, in a statement.
However, the data also showed that some future projects have been canceled and others delayed due to supply chain issues and continuing labor shortages. Simpson observed, “But while the immediate crisis appears to have passed, we are just now beginning to appreciate some of the longer-term impacts of the pandemic on the industry.”
In all, construction activity has returned to pre-COVID 19 levels in 34 states, as well as Dallas and Miami, according to Procore’s data on eight large metro areas. Another sign of progress is that only 8 percent of construction firms furloughed or laid off workers in June, which is a significant turnaround from March – May 2020. Additionally, 21percent of firms reported adding employees in June 2020.
You can read the actual survey results here and learn more about interpretation of this data from AGC and additional coverage by The Daily Reporter as well.