Construction Employment Declines for the 3rd Time in 4 Months – Now is the Time to Invest in Technology
As construction employment declines, there is no better time to look into investing in technology. At ECL Software, we have been providing tech-savvy solutions for years and look forward to showing you how our fund control and other software products can help you improve the future of your work.
Information from the Associated General Contractors of America
According to an analysis from the Associated General Contractors of America, which looked at government data recently released, construction employment went down for the third time in the last four months. Notably, non-residential contractors continue to deal with longer and more unpredictable delivery times, which limit their ability to finish or even start projects.
Additionally, many contractors continue to have a hard time finding the qualified workers they need to get the job done. There was already a lack of qualified construction personnel before COVID-19 caused havoc in the industry. Today some workers are reluctant to return to work either due to concerns about the virus or due to their children learning from home and having no reasonable alternative.
The Specifics
To look at the specifics, note that in May, seasonally adjusted construction employment was 7,423,000, which shows a reduction of 20,000 from the revised April total. In April and February, these numbers decreased as well. In May, the total was still 225,000 less than it was in February 2020, which is the measure of when the pandemic first started the process of reducing construction employment by upwards of one million jobs.
Contractors Are Waiting a Shocking Length of Time for Materials
When people hear about longer weight times for materials, they do not often realize that this means some companies are saying there will be four to six months between the ordering of roofing materials and the delivery, and as long as a year for shipments of steel. This makes it impossible for many construction companies to get the job done – which prevents them from hiring employees.
How Technology Could Spell the Answer
With fewer workers, fewer supplies, and increasing demand, something needs to change. For many, this could involve the introduction of technology into the investment scheme. This could involve AI programs that can do the literal heavy lifting or software technology, such as the products offered by ECL Software.
At ECL Software, we keep an eye on this industry and provide upgrades and new products to help our clients achieve maximum potential. Call us now at 800-625-5972 to learn how we can help you.
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