Since the coronavirus pandemic arrived in the U.S., contractors have been increasingly nervous about maintaining and building their backlog of work as jobs in some areas and sectors are put on hold or canceled.
To build their books, many firms are bidding on more projects than usual. This is increasing competition, with more contractors vying for the same project.
Associated Builders and Contractors’ Chief Economist Anirban Basu said that as a result of the COVID-19 pandemic, “the average construction firm leader is more concerned about demand for their services than any other consideration, including skilled worker shortages.”
