When history books are written about 2020-22, the construction industry deserves its own chapter. The experts are still examining how the industry thrived despite mounting challenges coming from a variety of directions. Truth be told, every industry sector is still deep in supply chain issues, job backlogs, labor shortages and a pandemic. The men and women navigating the project planning, installations and management deserve praise- and a break. "As always, there is uncertainty," said Associated Builders and Contractors (ABC) Chief Economist Anirban Basu. "The Omicron variant hovers over the economy like a dark cloud. Economists have little idea what the impact of the new variant will be, but there are scenarios suggesting that it could cut growth next year by as much as half. There are also scenarios where there will be no discernible impact. Only time will tell. What is known is that contractors will continue to struggle to hire, which strongly signals ongoing construction wage pressures throughout the year to come."
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