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Alongside the destructive economic impact the coronavirus has manifested throughout the year, uncertainty in regards to the construction industry still reigns prominent. Business operations and functions now fluctuate to a distinguishable degree throughout the United States. We go into the statistics released today from the U.S. Bureau of Labor Statistics. review U.S.
54.72% of construction establishments continued to pay employees who did not work during the pandemic; a percentage almost uniform in comparison to other industries with utilities (83.95%), finance and insurance (75.93%), and accommodation and food services (31.75%) serving as the prominent outliers.
69.96% of construction establishments throughout the United States did not offer telework to employees during the pandemic. This however is not unprecedented due to the fact that a large portion of industries in the United States also did not present any telework opportunities to their employees. 18.11% of construction corporations increased their telework while 12.67% of the construction business saw no change to their already existing telework arrangements.
Only 11.7% of construction establishments extended paid sick leave as a result of the pandemic causing the industry to flare on the lower percentage scale in comparison to other industries who typically ranked within the mid-teens and twenties percentage range.
The construction industry was on the rather high end of establishments which were fortunate enough to receive coronavirus-related loans or grants in an attempt to rehire or keep current employees on payroll. 63.12% of construction businesses were successful while many other industries remained around the 50% mark or dwindled below it.
- 67.83% of construction establishments who told employees not to work received a coronavirus grant/loan which also paid the employees who were instructed not to work.
- 31.56% told employees not to work and the establishment did not receive any coronavirus grants/loan which paid employees who were instructed not to work.
- 70.38% who told employees not to work received a coronavirus related grant/loan that paid for health insurance for employees who were instructed not to work.
- 46.40% who told employees not to work did not receive a coronavirus related grant/loan which paid for health insurance for employees who were instructed not to work.
The construction industry further faced continued complications put in place by the coronavirus.
The results below show the harrowing trouble those in the field of construction experienced. ● 44.97% of establishments experienced a shortage of supplies and inputs.
- 50.89% of establishments witnessed a decrease in product and service demand while only
10.45% saw an increase.
- 13.30% of establishments had shipping delays and difficulty.
11.87% had a government mandated closure of their business.
Employees within construction were heavily hit with unexpected financial burdens as a result of the pandemic’s impact on the industry.
- 6.49% of construction businesses hired additional employees. As for other industries, the percentage of additional workers ranges from 0.32-9.17% thus putting construction establishments at the midpoint.
- Similarly in regards to industries which increased employees’ hours, the construction industry was in the middle range at 3.24% with the scale starting at 0.96% and ending at 8.57%.
- 51.50% of establishments had employees not working during the pandemic either with or without pay.
- 54.72% continued to pay employees who did not work during the pandemic.
- 35.80% paid health insurance premiums to a handful of employees who were told not to work.
Economic and health factors which impacted the construction industry throughout the pandemic resulted in businesses attempting to operate in the most profitable way. Statistics depict additional data related to the American construction industry:
- 50.50% of establishments who received a coronavirus related grant/loan also encountered a shortage of supplies and inputs.
- 35.82% of businesses who did not acquire grants/loans experienced supply and input shortage.
- 56.87% which received a coronavirus related grant/loan also came across a decrease in demand.
- 41.98% without a grant/loan experienced a decrease in demand.
- 13.72% which received a coronavirus related grant/loan experienced government mandated closure.
- 9.02% without a grant/loan experienced government mandated closure.