Coronavirus - Economic Impacts

Latest Updates

AGC Calls for Federal Contractors to be Compensated; Submits Comments on DOD Guidance
May 28, 2020
On May 22, AGC submitted comments to the Department of Defense (DOD) request for input regarding draft guidance for contractor reimbursement under Section 3610 of the CARES Act. Among AGC's concerns with the draft guidance is the potential for the government to double dip into contractor… Read More
Forty Percent Of Construction Firms Report Layoffs Amid Widespread Project Cancellations As Economic Impact Of Coronavirus Grows
April 10, 2020
Survey of Construction Firms by the Associated General Contractors of America Finds More Than Half of Firms Have Had Projects Halted as 74 Percent Seek New Paycheck Protection Loans to Retain Staff With the covid-19 pandemic worsening by the week, an ever-increasing share of contractors are… Read More
Construction Layoffs Spread Rapidly As Coronavirus Shuts Down Projects In Contrast To Job Gains Through February In Most Metros
April 8, 2020
Association Officials Urge Quick Enactment of Infrastructure Investment, Relief for Hard-Hit Firms and Pensions in Order to Save Jobs in Construction and Supplier Industries More than a quarter of construction firms responding to an online survey conducted by the Associated General Contractors of… Read More
Twenty-seven Percent Of Construction Firms Report Layoffs Since The Coronavirus As New Jobs Report Offers Early Snapshot Of The Losses
April 3, 2020
Association Survey Conducted This Week Suggests Industry’s Job Losses are Spreading Rapidly; Officials Call for Additional Federal Measures to Help Avoid Further Layoffs and Economic Pain The fast-worsening covid-19 pandemic has triggered layoffs at more than a quarter of construction firms… Read More
February Rise In Construction Outlays Contrasts With Pandemic-driven Collapse In March As Owners, Government Orders Shut Down Projects
April 1, 2020
Survey Finds Contractors Face Shortages of Materials and Workers, Delivery Delays and Cancellations;  Association Officials Urge Additional Measures to Help Workers, Firms and the Economy to Recover Construction spending in February increased 6.0 percent from February 2019, with year-… Read More
Updated AGC CARES Act Analysis
March 30, 2020
Based on member inquiries, AGC updated our CARES Act analysis as it applies to small business eligibility for the new Small Business Administration (SBA) loan program. Those changes are noted below. A business is eligible for such a loan if it employs 500 employees or fewer, or if the… Read More
Sharp Jump In Owners Canceling Or Delaying Construction Projects Across The Country, New Survey Finds, Putting Many Jobs At Risk
March 27, 2020
After 42 States Added Jobs in February, Coronavirus is Taking a Swift and Severe Toll on the Industry, Prompting Association Officials to Call for Additional Measures to Help Workers and Firms Recover Thirty-nine percent of contractors report that project owners have halted or canceled current… Read More
AGC's Comprehensive Analysis of the Coronavirus Aid, Relief, and Economic Security (CARES) Act
March 27, 2020
AGC of America’s government relations team has combed through the details of the coronavirus relief bill set for passage in the House. They provided this initial analysis of what is in the bill and how it will impact the construction industry. We will, of course, share even more details… Read More
U.S. Senate Passes $2 Trillion Economic Aid Bill
March 26, 2020
On March 25, the Senate passed the largest economic aid package in our nation’s history. On a 96-0 vote, the $2 trillion bill—the Coronavirus Aid, Relief, and Economic Security (CARES) Act­­—passed the Senate and is soon expected to be approved by the House and signed into law­­.… Read More
AGC Calls for Federal Contractors to be Compensated for COVID-19 Related Losses; Equitable Adjustments due to Facility Restriction
March 24, 2020
On March 18, AGC, along with other coalition partners, urged Congress to support compensation for federal contractors during the COVID-19 outbreak. Legislative language was included in the letter to authorize contract equitable adjustments in cases where federal facility access… Read More
Pandemic Has Halted Or Delayed Projects For 28 Percent Of Contractors, Survey Finds; New Senate Relief Bill Will Provide Some Help For Industry
March 20, 2020
Coronavirus-caused Slowdown Contrasts with January Figures Showing a Majority of Metro Areas Added Construction Jobs; Officials Note New Infrastructure Funding and Paid Family Leave Fixes are Needed The coronavirus pandemic has caused more than one out of four contractors to halt or delay work on… Read More
AGC Joins Chorus of Groups Calling for Tax Measures to Safeguard Businesses during Outbreak
March 19, 2020
On March 18, AGC joined a host of other business groups in calling on Congress to enact a number of tax-related measures to safeguard companies, regardless of size, during the COVID-19 outbreak. This includes policies such as immediately providing accessible, unsecured credit to… Read More
Shutting Down Construction Projects Is An Unnecessary Step, Will Harm Economy & Undermine Recovery Efforts, Construction Officials Say
March 17, 2020
Construction Firms Are Already Taking Steps to Protect Employees, Most of Whom Already Wear Protective Equipment, While Halting Work Will Undermine Efforts to Add Hospital Capacity The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, issued the… Read More
Construction Jobs Increase In 32 States In January From 1 And 12 Months Ago But Data Do Not Reflect Likely Impact Of Coronavirus On Industry
March 16, 2020
Texas and Utah Have Biggest Number and Percent of Annual Job Gains, While Louisiana and West Virginia Lag; New York and New Hampshire Have Largest Monthly Gains, Washington Has Biggest Decreases Construction employment increased in 32 states in January compared to both December and January… Read More