This week, the United States Treasury and Small Business Administration issued additional guidance concerning the Coronavirus Aid, Relief and Economic Security (CARES) Act's Paycheck Protection Program (PPP).
Welcome to our Construction Industry News page, where we bring you the latest updates on mergers and acquisitions, key new hires, and significant industry shifts. Stay informed with breaking news and in-depth reporting to keep up with the fast-paced changes shaping the construction business.
WASHINGTON (May 8, 2020)—The construction industry lost 975,000 jobs on net in April, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. This was the largest recorded decrease in construction jobs since the government began tracking employment in 1939, despite construction remaining an essential industry in much of the nation through April.
This week, one of these two metropolitan areas announced plans to reopen construction and one returned to work after weeks of being shut down. Some construction firms will go back to work with specific protocols in place. Here's what you need to know:
(May 5, 2020)—Contracting giant AECOM reported its Q2 fiscal year 2020 results this week, which included a record-high backlog of $42 billion. The Los Angeles, California-based firm also reported near-record new project awards, totaling $8.6 billion in value. Project backlog increased 14% year over year.
NATIONAL (April 28, 2020)—Construction employment declined in 99 out of 358 metro areas from March 2019 to last month as the coronavirus pandemic triggered the first shutdown orders and project cancellations, according to an analysis released by the Associated General Contractors of America.
This week, the governors of Pennsylvania and Washington both announced plans for construction to resume on some projects with certain limitations in place.
Find out what you need to know below.
Pennsylvania
Governor Tom Wolf announced recently that construction would resume on May 1. Pennsylvania was one of the few states across the country that shut down all construction barring those projects considered essential.
WASHINGTON (April 23, 2020)—Confidence among United States construction industry leaders plummeted in response to the economic fallout associated with COVID-19, according to the Associated Builders and Contractors Construction Confidence Index.
WASHINGTON (April 22, 2020)—Reflecting the deteriorating conditions in the overall economy, demand for design services from architecture firms recorded a record fall, according to a new report today from The American Institute of Architects (AIA).
The United States House of Representatives is set to vote today on a $484 billion relief package that has already passed the Senate.
Last week, President Donald Trump released a three-step plan to reopen the economy—one that uses a "phased and deliberate approach" to restart work and open companies in areas that have strong, capable COVID-19 testing processes in place and have seen a decrease in the number of new cases.
NEW JERSEY (April 15, 2020)—Total construction starts declined 5% from February to March to a seasonally adjusted annual rate of $746.9 billion. Volatility caused by the presence or absence of large projects in healthcare and the utility/gas plant category, however, skewed the analysis.
Birmingham, Ala. (April 14, 2020)—Construction Business Owner, the leading business magazine for contractors, is pleased to announce a free webinar presented in partnership with Procore.
The live, online event, “The ABCs of VDC” will take place May 21, 2020, at 2 p.m. EDT, and will explore tech that actually works and how to make it work for your business.
NATIONAL—The United States Department of Labor's Occupational Safety and Health Administration has issued temporary guidance for contractors on whether a COVID-19 case on the jobsite should be recorded as an illness under OSHA forms, such as OSHA Form 300: Log of Work-Related Injuries.
NATIONAL (April 10, 2020)—With the covid-19 pandemic worsening by the week, an ever-increasing share of contractors are reporting cancellations of upcoming projects and shortages of equipment or materials, forcing nearly 40% of firms to lay off employees, according to an online survey released by the Associated General Contractors of America.
Birmingham, Ala. (April 8, 2020)—Construction Business Owner, the leading business magazine for contractors, is pleased to announce a free webinar presented in partnership with Acumatica. The live, online event, “3 Advantages of Operating in the Cloud” will take place May 7, 2020, at 2 p.m. EST. Registration is free at constructionbusinessowner.com/webinars.
IRMO, S.C. (April 6, 2020)—Diesel Laptops will host a virtual trade show on April 29th and 30th. In the wake of the Coronavirus pandemic, a lot of industries have come to a halt while the trucking industry continues to move forward which is why the theme for this year’s show is “Keep it Moving!”