New Industry Outlook Shows Contractors Expect a Boost from the Bipartisan Infrastructure Bill and Broad-Based Private-Sector Demand, Except for Retail and Office Construction, If They Can Find Workers and Materials
Construction contractors expect increasing demand for numerous types of projects in 2022 despite ongoing supply chain and labor challenges, as most firms plan to add workers this year, according to survey results released today by the Associated General Contractors of America and Sage. The findings are detailed in Expecting Growth While Coping with the Lingering Impacts of the Pandemic: The 2022 Construction Hiring & Business Outlook.
“Contractors are, overall, very optimistic about the outlook for the construction industry in 2022,” said Stephen E. Sandherr, the association's chief executive officer. “While contractors face challenges this year, most of those will be centered on the need to keep pace with growing demand for construction projects.”
The percentage of respondents who expect a market segment to expand exceeds the percentage who expect it to contract – known as the net reading – in 15 of the 17 categories of projects included in the survey. Contractors are most optimistic about the market for highway and bridge construction, which has a net reading of positive 57 percent. They are similarly optimistic about transit, rail and airports projects, with a net reading of 51 percent, and water and sewer projects, with a net reading of 50 percent.
- National Survey Results
- Press Release
- The 2022 Construction Hiring and Business Outlook Report
- 2022 Outlook Media Call Remarks
- View recording of the Zoom call