If you’re interested in construction, you’ll want to read about current news and trends in the field. The ENR website is full of articles on construction technology and events. The website also features podcasts and videos. The organization also hosts an annual construction industry aware conference in the summer. Construction articles can be found on a variety of topics, from the future of the Construction industry to the upcoming COVID-19 pandemic.
Construction industry forecasts
Forecasts are a good way to assess the future performance of the construction industry. They help reduce uncertainty in the market and enable comparison against other sectors. For example, an increase of 3 per cent in construction activity in 2021 is considered positive, but a decline of 5 per cent is seen as a negative sign. This information can also help inform specification strategy.
A number of factors can affect a sector’s performance, such as investor confidence and rising construction costs. Last month, construction material costs were up 1.2% YoY, primarily due to labor shortages and supply chain disruptions. In addition, the cost of softwood lumber in the United States has soared following US tariffs on Canadian lumber. Moreover, wildfires in Canada have hampered lumber production. Another potential downside risk is the ongoing Russia-Ukraine crisis.
Residential construction remains a strong area. Increasing demand for larger homes and low housing inventory support the sector. Other factors supporting the construction industry in the US include an expected increase in infrastructure spending in the next four to eight quarters. The publisher believes that the United States will continue to see steady growth in construction over the next four to eight years.
Rising interest rates will continue to compound the impact of rising construction costs. Nonetheless, a connected approach to construction is expected to help firms increase their productivity and efficiency. By integrating various stakeholders in a project, firms can take advantage of technology and other innovations to streamline the process.
Modern methods of construction
Modern methods of construction are increasingly popular with homeowners, who can reap a wide range of benefits. Many of these techniques speed up construction, reduce waste and improve quality. Among these are modular construction, prefabricated houses and containerized construction. In some cases, modern construction methods can eliminate the need for multiple trades and increase efficiency.
These new methods of construction can help local authorities to deliver better housing quicker. The construction industry has seen many innovations in the past few years, and these innovations are aimed at ensuring that buildings are both energy and resource efficient. These modern methods, such as prefabrication, use off-site production and factory assembly processes. However, they are not without their own negative consequences.
In the UK, for example, Health Spaces hosted a workshop for NHS Trusts to explore the differences between traditional and modern methods of construction. The content of this workshop is available on the Health Spaces resource pages. Although the two types of construction methods are fundamentally different, some of them are similar. For example, they are both based on the same materials.
Precast foundations can be a great choice for building in difficult environments. They are fast and affordable, especially in areas with bad weather. They also eliminate the need for beams, which allows for greater flexibility in floor plan layouts. This also reduces construction time. Timber frame construction can also be an option. Timber frames are manufactured off-site and then reinforced on-site.
Baby boomers leaving the workforce
The baby boom generation represents approximately 40% of the workforce, and it is aging. The shortage of these workers will create challenges for employers in the coming years. Construction is a physically demanding job, and older workers are at a greater risk of injuries. Age-related illnesses and injuries are more common among older construction workers, and they will require more time off the job for recovery.
The baby boom generation has contributed to the massive growth in the U.S. labor force and economy. It coincided with the Golden Age of the United States and relative peace following World War II. But now the boomers are starting to leave the workforce and industries are preparing for the inevitable shortage of workers. The industry has a lot to lose if it fails to prepare for the baby boomers’ retirement.
The baby boomers’ retirement is already impacting the construction industry. As a result, there is a critical shortage of qualified workers in this field. The construction industry will contribute $761 billion to the GDP in the first quarter of fiscal 2016. The Baby Boomers’ departure from the construction workforce will cause a slowed down construction productivity. In addition, there are fewer young people interested in entering the industry, especially those in highly specialized fields.
The ageing workforce is largely caused by life expectancy and technological advances. The number of workers aged 45 years and older increased by 7% between 1998 and 2008. In comparison, the number of workers aged 25 to 44 years decreased by 7%. Furthermore, birth rates have decreased, which means that family sizes are smaller. This has affected the workforce in many countries, but it has also increased average age.
The COVID-19 pandemic is a worldwide epidemic affecting the construction industry. In the United States, the construction industry is considered a crucial business. Meanwhile, trucking and upstream manufacturing units are considered non-essential. Some of these businesses have temporarily suspended their operations. Some of the companies have also experienced material delivery delays, due to the truck drivers’ fears of the virus.
The COVID-19 pandemic has been described as the worst global health crisis in decades, with an unprecedented number of deaths and widespread business disruption. The impact of the disease on the construction industry is yet to be fully understood. To better understand the early impacts of the disease, it is necessary to understand how the industry has responded.
The COVID-19 pandemic has increased uncertainty, complexity, and job burnout. Job burnout is defined as persistent feelings of fatigue and low motivation. The constant exposure to news about the virus can cause a person to dwell on the symptoms. Furthermore, it is easy to feel intimidated and depressed when surrounded by reports of the disease.
The COVID-19 pandemic is having a huge impact on the construction industry. It has negatively affected many aspects of the industry, including the workforce, project performance, and project continuity. Additionally, the disease has caused social isolation in workers who use teleworking. In addition, workers may have to face personal responsibilities outside of their work hours.
Diversity and inclusion goals on construction projects
Building a diverse workforce in the construction industry has many benefits. It fuels employee productivity, creativity, and satisfaction. When companies embrace EDI goals, they can foster a cultural shift from within. A diverse workforce also tends to be more effective, which ultimately benefits the company’s bottom line.
To promote a diverse workforce, contractors should follow federal laws. In addition, they should be careful when selecting subcontractors. Many contractors fail to meet federal diversity and inclusion goals. It is not enough to hire minority or female contractors. Companies should also hire subcontractors who meet diversity and inclusion goals.
The construction industry contributes to the economy at a record high and still complains of a lack of qualified workers. However, recent surveys show that it still has a long way to go in achieving a more diverse workforce. To help companies reach their diversity goals, EDI professionals can identify underrepresented and protected groups. These groups are defined by the Equality Act and must be considered in hiring practices.
The construction industry offers many challenges for underrepresented groups, but there are many support networks that are designed to reduce the risk of marginalization. National Women in Construction, for example, is a resource for education on diversity issues. It also hosts annual conferences and professional seminars. Some companies have partnered with local schools and community groups to offer courses for young women interested in construction. Then there is Construction Equality, which discusses diversity issues, shares personal stories, and promotes scholarships for women in STEM.
New equipment models
As digitalization advances, the construction industry is adapting to new equipment models. Current models involve companies purchasing new equipment and supplementing their fleet with rented units. These new models provide better budgeting, estimating, and cash flow management. In addition, some manufacturers are moving to an equipment as a service model, allowing construction firms to lease equipment instead of purchasing it.
New equipment models are more efficient and can handle larger jobs. These machines are also more fuel-efficient and require less upkeep. New equipment also helps increase worker safety. With increased productivity, construction projects can be completed on time and within budget. New equipment models are also more durable and easier to operate. If you want to stay competitive, you should consider purchasing new construction equipment.
In addition to launching new equipment models, several companies have recently introduced technology that helps make construction work easier and safer. One such example is the Hilti Tracefast system. This system can help construction workers document concrete anchor installations by reading the unique data matrix code on the anchor bolt head. It also helps confirm the strength and type of the anchors. Moreover, Stihl recently introduced a new system called the Asset Management System (AMS). It works with any tool that generates magnetic flux and provides operators with operational data. Eventually, this system will also incorporate anti-theft features, and it will provide users with more comprehensive information about the condition of their tools.