Economy: Page 2

AECOM beats Q4 estimates, sees opportunity in Biden administration

The firm exceeded analysts' expectations for earnings and revenue in its most recent quarter and sees potential growth for infrastructure projects next year. 

By Joe Bousquin • Nov. 17, 2020

States with biggest drops, gains in construction employment

While the construction industry added jobs last month, its employment picture is highly variable across the country. Here are the states that have gained and lost the most construction jobs.

By Jenn Goodman • Nov. 12, 2020

Readers Respond: Contractors nervous about what a Biden presidency means for the industry

From infrastructure spending and union support to immigration, taxes and regulations, construction pros are concerned about many issues.

By Jenn Goodman • Nov. 12, 2020

Bankers: Commercial, multifamily loans down 47%, but up from Q2

Some sectors have been hit harder than others, with hotel properties seeing a 94% year-over-year drop in lending volumes compared to a year ago, according to the Mortgage Bankers Association.

By Joe Bousquin • Nov. 10, 2020

Casino construction gets a boost from voters

Recently approved gambling initiatives will give the hospitality construction sector new work on projects priced from $300 million to $1.2 billion in several states, industry officials say.

By Jenn Goodman • Nov. 10, 2020

SBA releases borrower data on smaller PPP loans

The Small Business Administration has disclosed the names, addresses and loan amounts for each Paycheck Protection Program and Economic Injury Disaster Loan borrower.

By Dan Ennis • UPDATED: Dec. 8, 2020 at 8:10 a.m.

What's in store for contractors under a Biden presidency?

From infrastructure spending and union support to immigration, taxes and regulations, the construction industry will face a new set of challenges and opportunities under a Biden administration.

By Joe Bousquin , Kim Slowey • Nov. 07, 2020

Las Vegas construction market takes a hit from COVID-19

Does a recent drop in Sin City's commercial construction activity signify a prolonged slump or just a temporary lag in projects? Industry experts weigh in.

By Shelley D. Hutchins, LEED-AP • Nov. 04, 2020

The 10 cities in the most financial distress

Las Vegas, Chicago and Houston are home to the residents experiencing the heaviest financial burdens, according to a recent WalletHub study.

By Cailin Crowe • Oct. 30, 2020

Fluor reports delayed Q2 2020 results, $4.1B in revenue

Revenue was affected by COVID-19 challenges, the company said, and backlog was $29 billion.

By Jenn Goodman • UPDATED: Nov. 13, 2020 at 8:18 a.m.

7 coronavirus-related construction challenges that will continue in 2021

Although contractors weathered a range of obstacles this year, the headwinds will not end when 2020 does, economists and other experts predict.

By Shelley D. Hutchins, LEED-AP • Oct. 21, 2020

House panel blasts banks over gap in PPP processing time

Businesses that borrowed up to $5 milllion had their Paycheck Protection Program loans processed much more quickly than those that borrowed less than $100,000, a new report found.

By Dan Ennis • Oct. 20, 2020

Where Trump, Biden stand on construction-related issues

This comparison looks at the nominees' platforms on topics of importance to contractors such as infrastructure spending, job creation and immigration.

By HR Dive and Construction Dive staffs • Oct. 19, 2020

SBA, Treasury unveil simplified PPP forgiveness documents

The federal government has rolled out a two-page version of its forgiveness application for Paycheck Protection Program loans of $50,000 or less in an effort to ease the burden for lenders and small businesses.

By Anna Hrushka • Oct. 15, 2020

After a brief uptick, commercial construction backlog falls again

New data "indicate that we are in the early stages of a nonresidential construction spending downturn," said Associated Builders and Contractors Chief Economist Anirban Basu. 

By Jenn Goodman • Oct. 14, 2020

Modular builder Skender Manufacturing closes, citing coronavirus challenges

The demise of the Chicago-based company, an offshoot of Skender Construction, was due in part to a decline in hospitality projects and investors' diminished appetite for risk. 

By Joe Bousquin • Oct. 01, 2020

PPP forgiveness approvals could begin soon, SBA says

The Small Business Administration has received more than 96,000 Paycheck Protection Program loan forgiveness applications but has approved none, according to the agency's chief of staff.

By Dan Ennis, Jenn Goodman • Oct. 01, 2020

Fluor announces $1.7B loss in delayed 2019 earnings report as SEC investigation continues

The company also suspended its guidance for 2020, saying that it has experienced "a significant shift in end markets in 2020 driven by volatility in commodity prices and the global disruption from the COVID-19 pandemic."

By Jenn Goodman • Oct. 01, 2020

Construction scores a hat trick: Starts, jobs, backlog all rise

The construction industry has rebounded from the COVID-19 crisis more than any other segment in the U.S., new reports show, driven by positive numbers in several areas.

By Joe Bousquin • Sept. 21, 2020

Many banks not yet accepting PPP forgiveness applications

Lenders are awaiting more guidance from the federal government as well as potential legislative action on the Paycheck Protection Program. Here is a rundown of what some of the country's top banks are telling customers.

By Jenn Goodman • Sept. 14, 2020

Payroll tax deferral program could leave employers holding the bag

Firms that allow workers to defer Social Security taxes this year could face the liability of repaying the taxes themselves, according to an ADP executive.

By Robert Freedman • Sept. 11, 2020

Deep Dive

Contractors prepare to face COVID-19 challenges for the long haul

As summer turns to fall, construction pros are looking to new solutions to deal with the coronavirus pandemic through the rest of the year and into 2021. 

By Joe Bousquin • Sept. 08, 2020

AGC survey finds project delays, labor shortages worsening for construction

Associated General Contractors of America officials said neither political party is helping to mitigate construction industry fallout from the COVID-19 pandemic and workers are choosing unemployment benefits over jobs.   

By Joe Bousquin • Sept. 03, 2020

Readers Respond: Contractors see 2020's challenges continuing

2020 has been an unprecedented year for construction. As the summer winds down, Construction Dive readers weigh in on the issues they anticipate this fall and in early 2021.

By Zachary Phillips • Sept. 03, 2020

Banks went all in on construction lending in Q2, despite delinquencies

Some banks aggressively pursued nonresidential lending for new projects, even amid nonpayment on outstanding loans. Wells Fargo and JPMorgan Chase topped the list of commercial lenders, according to S&P.

By Joe Bousquin , Jenn Goodman • Sept. 02, 2020