Construction

Businesses are scaling back their expectations for 2023 accordingly.

Bruce Ridenour has been a contractor for 40 years and said local contractors in Danbury, Connecticut don't have bandwidth to handle all the new demand.

A record-high percentage of firms are facing supply shortages, the National Association for Business Economics found, and most are passing cost increases om to customers.

The pandemic accelerated automation purchases, according to an industry group, especially in agriculture, construction and fast food.

Rents are up, providing builders an incentive.

Homebuilders already face higher prices for materials. More expensive loans could affect construction for years.

Jerry Howard, CEO of the National Association of Home Builders, discusses the challenges facing his industry.

Demand is pushing up wages, but not enough, some say, to bring young workers to the door as older ones head for the exit.

Contractors are finding ways to work around supply chain delays, but projects are taking longer.

The idea that federally funded construction projects must pay a minimum "prevailing wage" goes back to a 1931 law.