Construction Outlook Fall 2022
Material prices have continued to rise throughout 2022, doing little to assuage concerns for high construction prices. Concrete products prices rose 2.2% in July, while several goods such as steel mill products (-3.7%) and copper and brass (-9.7%) saw significant drops in July. As a whole, most materials and products have seen gradual price increases over the past year. The hiring and labor outlook is bullish according to the Associated
General Contractors of America (AGC). 74% of firms surveyed plan to hire in 2022 and are expecting growth both in public projects (thanks to the Bipartisan Infrastructure Bill) as well as the private sector. Hiring is not as easy as it may seem however, as 83% of contractors report that they are having a difficult time filling roles, both salaried and hourly.