While demand for experienced construction professionals runs high in many sectors, average compensation remains soft following the uncertainty created by the COVID- 19 pandemic.
The first six months of 2021 have seen big materials cost hikes, increasing labor shortages and uncertainty over federal action on a major infrastructure package.
As the COVID-19 pandemic recedes in the U.S. and restrictions on work and other interactions are lifted, the construction sector’s rebound is underway, with some markets bouncing back faster than others, analysts say.
Fluor-led work on B.C. natural gas export terminal, part of estimated $31-billion project, pushes ahead to make up for COVID-19 delay; but final investment decision for $8.1B Goldboro LNG project in Nova Scotia will not be made, developer said July 2.
Owners frequently call in professional services firms to streamline projects to completion and keep a pulse on the market. Lately, firms agree, that pulse is racing. Projects shelved last year are quickly rebooting while newer, more complex construction programs fill pipelines, driving many owners to seek support beyond their usual teams to manage the volume.
Lane Construction and Webuild Group will build privately funded Dallas-to-Houston line after state high court declined to hear challenge to developer Texas Central's eminent domain rights.