2021 Pessimism In Construction Sector Survey Finds
Few construction firms expect the industry to recover to pre-pandemic levels anytime soon.
Construction employment increased by 51,000 jobs in December, with gains for nonresidential as well as residential contractors, according to an analysis by the Associated General Contractors of America of government data released today. Association officials cautioned, however, that its latest survey shows widespread pessimism among contractors about the volume of work available in 2021, and they urged lawmakers to focus on measures designed to rebuild the economy and demand for construction.
“December’s employment gains likely reflect milder weather than usual for the month rather than sustained demand for projects,” said Ken Simonson, the association’s chief economist. “In fact, our survey found contractors expect the volume of work is likely to decline for nearly all nonresidential project types, and most firms have experienced project cancellations or postponements.”