Hiring isn’t the only ingredient creating what AGC CEO Stephen Sandherr called a “mixed-bag” for contractors this year.
Respondents’ top concerns for 2024 included:
- Rising interest rates or financing costs: 64%.
- Economic slowdown or recession: 62%.
- Rising direct labor costs (pay, benefits, employer taxes): 58%.
- Insufficient supply of workers or subcontractors: 56%
- Worker quality: 56%.
- Material costs: 54%.
During a Jan. 4 webinar about the report, Lynn Hansen, CEO of Charlotte, North Carolina-based Crowder Constructors, expressed cautious optimism for the new year.
