Loading...
You are here:  Home  >  Real Estate  >  Current Article

ABC: Construction sector will remain strong in 2019

Posted by   /  December 6, 2018  /  No Comments

    Print       Email

 

Building Design and Construction

Associated Builders and Contractors Chief Economist Anirban Basu forecasts another strong year for construction sector performance, yet warns about inflationary pressures, according to a 2019 economic outlook.

Job growth, high backlog and healthy infrastructure investment all spell good news for the industry. However, historically low unemployment has created a construction workforce shortage of an estimated 500,000 positions, which is leading to increased compensation costs.

“U.S. economic performance has been brilliant of late. Sure, there has been a considerable volume of negativity regarding the propriety of tariffs, shifting immigration policy, etc., but the headline statistics make it clear that domestic economic performance is solid,” said Basu. “Nowhere is this more evident than the U.S. labor market. As of July, there were a record-setting 6.94 million job openings in the United States, and construction unemployment reached a low of 3.6 percent in October.”

READ ON:

    Print       Email

Leave a Reply

You might also like...

Mesa approves $200 million GrandeVita project.

Read More →