For construction labor, the pain brought on by the recession is being felt in the paycheck. While unemployment remains historically high and contractor backlogs evaporate, most workers see limited increases in wages and fringes, and many are seeing wages frozen or even cut. Photo: Tudor Van Hamptom for ENR Dwindling profits leave little room for firms to reward workers. Related Links: Economics: With Margins Cut to the Bone and No Demand, Costs Are Left With Nowhere To Go Market: More Bad Economic News Dims Industrys Confidence Cement: New EPA Regs Pose Cost Problems Insurance: Recession and Politics Impact Workers Comp
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.