According to a Construction Dive article posted May 11, “The construction industry unemployment rate was 16.6% in April, up from 6.9% in March and far from the 4.7% posted in April 2019.”
Amid record job losses over the last quarter, contractors are now scrambling to pick up the pieces and finish their current backlog of construction projects on time while keeping scheduled construction starts moving forward.
Reduced Construction Staff, More Delays
The worst is yet to come for many projects already severely impacted by delays. The question contractors are asking right now is how much the unprecedented nationwide shutdowns will affect them in the long run. Compounding the issue, reduced staffing will lead to even more delays, even as the economy is gearing to start back up after a harsh three months.
Here’s a look at the industry’s current situation:
Delayed and Canceled Projects
Thirty-five percent of contractors report that one or all of their projects have been stopped by Government mandate as a direct result of COVID-19 and 67% have had at least one contract outright canceled. These impacts have forced virtually every contractor to make difficult decisions, including massive reductions of staff, leaving the country’s construction industry unemployment rate at record levels.
As projects are slowly getting the green light to start back up, companies are reaping the consequences from months of cutting costs through shedding a significant portion of their labor force, and now find themselves without the necessary manpower to get anything done.
Get Back On Track with Gadzoom
But there is still hope. With Gadzoom’s innovative software, contractors can cut administrative costs, freeing up capital to fully staff the operational side of their projects. Using the latest in construction technology, managers now have the ability to create and manage fully-customized AHAs, Accident Prevention Plans, and a complete list of other important construction admin documents without the hundreds of hours of effort that would normally be associated with doing so. Our enormous library of construction document resources makes it easy for companies to select the right solutions for their needs.
We can help you get back on track. Saving thousands of dollars is now easier than ever, and contractors get to focus on getting the job done instead of having their hands tied with mountains of administrative hurdles as we all get back to work. At the end of the day, we are in this together. Here at Gadzoom, we take pride in helping our peers during this difficult time. That’s why Gadzoom has made our customized COVID-19 Exposure Prevention Plan and COVID-19 AHA available to the public free of charge. Just click here and create a profile to give our program a try.
Get Construction Documents Online Using Gadzoom
Gadzoom enables contractors to generate important documents in minutes, giving them the freedom to run and manage the business without all the headaches that come with administrative responsibilities. Our company was born to make construction document management as streamlined as possible. You can create a variety of government compliant safety and administrative documents at the touch of a button.