What’s keeping contractors up at night?

Abstract

The association received 1,032 responses overall, primarily from general contractors. Although contractors are optimistic overall, that doesn't mean there aren't rocky times ahead, said AGC Chief Economist Ken Simonson in a webinar last week about the survey. Courtesy of AGC Here are some other takeaways from the survey: Supply chains are still broken Contractors' biggest concern for the coming year is the supply chain. In the coming year, 69% of contractors expect to hire and only 11% expect to reduce their headcount, according to the survey. Plus, 83% of contractors worry the shortage and resulting inexperienced skilled labor pool will pose a challenge to the safety and health of their firm's workers - the biggest threat respondents identified by far. Infrastructure a bright spot While the outlook is more dim for private jobs, contractors are optimistic about infrastructure and other public work, the survey shows. Overall, contractors expect the value of infrastructure projects to rise, and for lodging, office and retail to slump in 2023.