The U.S. has been in 48 recessions since the founding of our Country. However, this one is different. The construction industry is facing several obstacles.
Since the COVID-19 pandemic, the construction industry is facing several obstacles – the major issues being supply chain disruptions and labor shortages. However, most builders are having problems maintaining the demand for home remodel and new residential buildings.
According to Bloomberg.com “an underlying shortage of workers – thanks to baby boomers retiring…” – and this will make companies more careful about firing staff in a downturn.
Mainstream media have had to admit that the U.S. is in a recession since the last two-quarters of 2022 have been in negative GDP.
CNBC.com headline reads: “Atlanta Fed GDP Tracker shows the U.S. economy is likely in a recession”.
The Wall Street Journal (WSJ.com) headline reads: “If the U.S. Is in a Recession, It’s a Very Strange One”.
In Louisville Kentucky, it is a different story. While many roofing contractors and remodelers are having problems; that’s not the case with R&B.