CONSTRUCTION: SLOW RECOVERY

Although 37 states added jobs in the building trades in November and December, the total number of U.S. construction workers still lags pre-pandemic levels, according to a 26 January report by the Associated General Contractors of America (AGCA).
Construction jobs declined during the two-month span in 11 states and D.C.
However, even those recent gains are likely to be temporary, noted AGCA chief economist Ken Simonson in a statement accompanying the report. 
“Participants in our association’s recent Hiring and Business Outlook Survey expect the dollar volume of most project types available to bid on in 2021 to decline,” he said.
In 34 states, there were fewer construction jobs in December than last February, the month before the U.S. began locking down its economy.
During the final 11 months of 2020, Texas and Vermont lost the most construction jobs; Alabama and Virginia added the most.
To buoy construction employment until the COVID virus is curbed by mass vaccinations, state and federal agencies should invest in infrastructure projects, put additional money into construction projects, and move quickly to forgive Paycheck Protection Loans, the AGCA’s statement urged.
TREND FORECAST: Name the industry, profession, politician, nation, state, etc., according to them all, forgotten is the devastation wrought upon the global economy by unprecedented lockdowns that have destroyed hundreds of millions of lives and livelihoods. In their world, the only salvation for a return to “profit” will be “mass vaccinations.”
The construction industry will continue to weaken as the commercial real estate sector continues to decline and home building moderately expands.