Construction Industry Loses 975,000 Jobs in April as AGC Survey Shows Deteriorating Demand for Construction Projects

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Association Partner Procore Also Releases Near Real-Time Construction Data Measuring Impacts of Coronavirus as Association Calls for New Measures, Including Safe Harbor Provisions, to Revive Industry Construction employment declined by 975,000 jobs in April as a new survey by the Associated General Contractors of America and data from construction technology firm Procore show deteriorating demand…

Decision to Extend Paycheck Protection Program Loan Return Deadline to May 14 Helps, But Clarifications Still Needed, Says AGC

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Construction Official Urges Treasury Department to Clarify Recent, Confusing, Guidance that is Prompting Many Construction Firms to Return Loans, Cut Staff Instead of Risking Prosecution The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, issued the following statement in reaction to the Treasury Department’s announcement that it will extend the…

Nonresidential Construction Spending Declines in March as Pandemic Halts Projects, Says AGC

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Treasury Department’s Recent Changes to Paycheck Protection Program Loan Guidance Are Making It Even Harder for Firms to Maintain Jobs Amid Declining Private-Sector Demand for Construction Numerous impediments to completing construction projects led to declines in most categories of private construction spending in March, according to an analysis by the Associated General Contractors of America…

Paycheck Protection Program Is Allowing Construction Firms to Add and Retain Employees Despite Declining Demand, New AGC Survey Finds

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Nearly Half of Firms Have Received Loans, But Growing Number of Project Cancellations, Delays and Delivery Problems Imperil Industry A large share of construction firms promptly received loan funds under the new Paycheck Protection Program, enabling many of them to hire or retain employees despite a surge in project cancellations, according to a survey released…

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AGC: 40% of Construction Firms Report Layoffs Amid Widespread Project Cancellations as Economic Impact of Coronavirus Grows

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Survey of Construction Firms by the Associated General Contractors of America Finds More Than Half of Firms Have Had Projects Halted as 74 Percent Seek New Paycheck Protection Loans to Retain Staff 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…

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Sharp Jump in Owners Canceling Or Delaying Construction Projects Across The Country, Says New AGC Survey

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After 42 States Added Jobs in February, Coronavirus is Taking a Swift and Severe Toll on the Industry, Prompting Association Officials to Call for Additional Measures to Help Workers and Firms Recover Thirty-nine percent of contractors report that project owners have halted or canceled current construction projects amid deteriorating economic conditions, according to a survey…