Gains in May Reflect Temporary Support from Paycheck Protection Program Loans and Easing of Construction Restrictions, But Hobbled Economy and Tight State and Local Budgets Risk Future Job Losses

New York City Has Largest Job Loss, Montgomery-Bucks-Chester County, Pa. Has Worst Percentage Loss As Coronavirus Pandemic Drives Rampart Decreases in a Month When Industry Typically Adds Employees

On March 25, the Senate passed, 96-0, H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act. It is expected to be taken up by the House of Representatives soon. The CARES Act, a $2 trillion economic relief package, is the third in a series of coronavirus related measures Congress has taken up in recent weeks to address the pandemic sweeping the country. This legislation encompasses a host of provisions that will provide construction employers and employees with critically needed access to capital, expedited cash-flow, worker benefit protection, and critical tax relief, among other things. While this bill is appreciated, due to the unparalleled uncertainty this pandemic has brought, AGC recommended to Congress further measures that must be taken to safeguard the construction industry from the effects of this outbreak.

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

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

Dallas-Plano-Irving, Texas and Kansas City Have Largest Gains; New York City and Fairbanks, Alaska Lag the Most as Labor Shortages Likely Kept Firms in Many Areas from Adding Even More Workers

Homebuilding Strengthens but Infrastructure and Other Nonresidential Spending Fades in Recent Months, Reversing Pattern in Early 2019; Industry Survey Shows Strong 2020 Demand for Projects and Workers

Texas and Maine Have Biggest Number and Percent of Annual Job Gains, Ohio and Wyoming Have Largest Annual Losses; Texas and Iowa Have Largest Monthly Gains While Nevada and West Virginia Have Largest Monthly Declines

On Jan. 15, the United States and China signed a modest ‘phase one’ trade agreement, signaling a major first step towards defusing tension in the trade war between the two nations. Under this initial agreement, the Trump administration will reduce the existing tariff rate on $120 billion worth of import goods from China, in addition to upholding its commitment to not impose further tariffs on Chinese goods. Although the agreement rolled back some of the import duties imposed on China, steep tariffs on $250 billion of goods remain. AGC applauds this initial agreement and will continue to advocate for a further reduction of tariffs to keep construction material cost low and maintain market stability.