In the event of a near-term slowdown in the U.S. economy, analysts forecast that any resulting decline in construction starts will nevertheless leave the level of activity in that industry sector “close to recent highs.” As a result, project owners and general contractors already facing a strong demand for workers will continue to do so, further exacerbating difficulties they are having in hiring sufficient and/or properly trained personnel. A significant number of respondents to an Associated General Contractors of America survey said that those staffing challenges are causing them higher-than-expected costs and longer-than-anticipated completion times for projects. In my latest article for the Daily Journal of Commerce, I look at several steps owners and general contractors should consider to manage those risks. Read the full article here.
Originally published as “OP-ED: Plan ahead to handle project challenges that arise in 2020” on January 16, 2020, by the Daily Journal of Commerce.