In addition to increased safety protocols and disruptions on jobsites around the country, the construction industry is facing something it has seen very little of in recent years—layoffs due to work slowdowns and postponed projects.
An April 10 national survey from the Associated General Contractors revealed that 53% of firms report they have been directed to cancel current projects or those scheduled to start within 30 days. As a result, nearly 40% of firms said they have laid off employees, and 74% are seeking Paycheck Protection Program loans.
