We are no longer the industry of our fathers and grandfathers, and we will not prosper if we do not understand what that entails. There is no easy fix for our labor shortage. But there is a fix in a collective and determined effort.
Most experts agree that a recession is on the horizon, however, what they can’t agree on is what it will look like for the construction industry. Let’s look back on how the last recession hit the construction industry to see what the coming recession might look like.
Surging inflation, global energy supply shortages, Russia’s invasion of the Ukraine, and Chinese pandemic-related disruptions to economic activity have brewed the perfect storm of economic instability.
We can all agree that being able to factor market volatility into a construction company’s cash flow plan is nearly impossible. However, a savvy CFO will be able to do just that using data provided by Engineering New Record and the Construction Financial Management Association.