“In addition to ongoing, global supply chain disruptions, which in many instances are worsening, transportation costs are surging due to rising fuel prices and insufficient capacity. This will put additional upward pressure on input prices which could cut contractor profit margins,” said ABC Chief Economist Anirban Basu.
“Nonresidential construction backlog declined for a second consecutive month as skills and input shortages hammer the industry,” said ABC Chief Economist Anirban Basu.
The construction industry added 22,000 jobs on net in September. Overall, the industry has recovered 912,000 (81.9%) of the jobs lost during earlier stages of the pandemic.
Higher materials prices and labor costs have put more projects on hold and, in many cases, rendered projects infeasible, ABC Chief Economist Anirban Basu said.
If you are an installer who wants to get out of the field and grow your career by pursuing estimating, I would hope this article is helpful in setting you on the right path with regards to the mindset and habits you will need to succeed. Likewise, if you are considering going out on your own as a small business owner or contractor, you will need to quickly learn to develop the skills necessary to estimate accurately and run a profitable business.
Inc. magazine revealed that J.C. Restoration, Inc. is No. 4703 on its annual Inc. 5000 list, a prestigious ranking of the nation’s fastest-growing private companies.
I’m excited to expand on our popular Ask the Expert podcast with a subseries, called Real Stories in Restoration. It will capture the journeys of the people in restoration – how you got here, the work you do and tools you use, lessons learned, memorable projects, advice for industry peers, etc. I invite you to join me in sharing your story!
ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels all fell modestly in July but remain above the threshold of 50.
