Construction Market Keeps Hammering Away – Contending with Labor Shortage, Rising Costs, Project Delays and Tough Insurance Market
Business Tools
On: June 22, 2021 | By:
The construction industry continues to face labor shortages, rising costs, supply chain woes and lingering effects of the pandemic yet it is managing to stay on a growth path. Signs of recovery are most notable in the building of single-family homes, healthcare and communication industry facilities, and some infrastructure segments such as water and wastewater infrastructure, which has increased 9% in 2021 so far, according to FMI’s 2021 North American Engineering and Construction Outlook. Meanwhile construction projects for multi-families, lodging and hospitality, and office space have shown considerable declines, the report revealed.
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