Despite Rise in Construction Employment, AGC of America Warns of Potential Losses
June 22, 2020
A new survey released by the Associated General Contractors of America suggests another wave of job loss is possible for the construction industry, despite a rebound in construction employment in May.
“The widespread uptick in construction employment in May is welcome news following a month in which industry employment shrank in all but one state,” says Ken Simonson, AGC’s chief economist. “Our association’s latest survey shows many firms have been recalling or adding employees in recent weeks, thanks in part to rapid receipt of Paycheck Protection Program loans. But only about one-fifth of firms report winning new or expanded projects, while almost one-third of firms say an upcoming project has been canceled.”