Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Order a copy
    • Buy an award plaque
    • Suggest execs for 2022

Advertisement

Header Primary Menu

  • Issues
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Order a copy
    • Buy an award plaque
    • Suggest execs for 2022

Home News Construction continues to struggle during pandemic

Construction continues to struggle during pandemic

Industry has recovered only 59% of jobs lost since crisis began

Published August 7, 2020 by Sydney Lake

The nonresidential construction industry lost 4,000 jobs in July, as compared to June, the Associated Builders and Contractors (ABC) announced Friday. The construction industry as a whole, however, has added 639,000 jobs during the past three months — recovering approximately 59% of the jobs lost during the pandemic.

“For several weeks, contractors have noted an increase in project postponements and cancellations due to coronavirus impacts,” ABC Chief Economist Anirban Basu said in a statement. “July data reflect this reality, as many of the postponed or canceled projects are in categories such as office, lodging and retail.”

The construction unemployment rate was 8.9% in July, which is 5.1% higher than the same time last year. 

The construction industry as a whole added 20,000 jobs on net during July, according to the ABC. The nonresidential building sector lost 9,300 jobs while nonresidential specialty trade contractors added 3,500 jobs and heavy and civil engineering added 1,800 jobs.

“At the same time, there appears to be a growing amount of work modifying existing structures,” Basu said in a statement. “That helps explain the 3,500 jobs created within the nonresidential specialty trade segment, which, among other things, encompasses workers who handle air handling systems.”

Basu warns, however, that the jobs added last month may not reflect coming months.

“The outlook for nonresidential construction spending is not especially favorable for the next year,” Basu said in a statement. “The pandemic remains stubbornly in place … [and] the pace of recovery has softened in conjunction with viral resurgence. Commercial real estate fundamentals are in tatters, with the pandemic set to leave behind many shuttered restaurants, empty storefronts and vacated office suites.

“While contractors maintain a healthy level of backlog, according to ABC’s Construction Backlog Indicator, the trajectory of nonresidential construction during the months ahead will depend heavily upon the nature of economic stimulus and the extent policymakers prioritize construction and infrastructure.”

 

Subscribe to Virginia Business.

Get our daily e-newsletter.

Related Stories

Virginia Business logo

Breeden Construction tapped to build apartment complexes

Virginia Beach-based firm is general contractor for the projects, valued at $105 million.

Virginia Business logo

Reston-based Stanley-Martin to acquire Essex Homes

Essex Homes built more than 853 homes in the Carolinas in 2019.

Virginia Business logo

U.S. nonresidential construction spending fell in July

Associated Builders and Contractors says next year will be harsh for contractors

Trending

William & Mary names new business school dean

Carsales.com to fully acquire Trader Interactive

UNOS CEO announces departure

Sponsored Stories

What can Supply Chain Consultants do for me?

The Lowdown on Downloads for Your Online Experience

5 Benefits of Treasury Management Services from Atlantic Union Bank

Creating An Urban Destination in Chesapeake

Advertisement

Advertisement

Trending

William & Mary names new business school dean

Carsales.com to fully acquire Trader Interactive

UNOS CEO announces departure

Sponsored Stories

What can Supply Chain Consultants do for me?

The Lowdown on Downloads for Your Online Experience

5 Benefits of Treasury Management Services from Atlantic Union Bank

Creating An Urban Destination in Chesapeake

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2022 Virginia Business. All rights reserved.

Site Maintained by TechArk