Coronavirus - Economic Impacts

Latest Updates

May 28, 2020
On May 22, AGC submitted comments to the Department of Defense (DOD) request for input regarding draft guidance for contractor reimbursement under Section 3610 of the CARES Act. Among AGC's concerns with the draft guidance is the potential for the government to double dip into contractor pockets by... Read More
April 10, 2020
Survey of Construction Firms by the Associated General Contractors of America Finds More Than Half of Firms Have Had Projects Halted as 74 Percent Seek New Paycheck Protection Loans to Retain Staff With the covid-19 pandemic worsening by the week, an ever-increasing share of contractors are... Read More
April 8, 2020
Association Officials Urge Quick Enactment of Infrastructure Investment, Relief for Hard-Hit Firms and Pensions in Order to Save Jobs in Construction and Supplier Industries More than a quarter of construction firms responding to an online survey conducted by the Associated General Contractors of... Read More
April 3, 2020
Association Survey Conducted This Week Suggests Industry’s Job Losses are Spreading Rapidly; Officials Call for Additional Federal Measures to Help Avoid Further Layoffs and Economic Pain The fast-worsening covid-19 pandemic has triggered layoffs at more than a quarter of construction firms... Read More
April 1, 2020
Survey Finds Contractors Face Shortages of Materials and Workers, Delivery Delays and Cancellations;  Association Officials Urge Additional Measures to Help Workers, Firms and the Economy to Recover Construction spending in February increased 6.0 percent from February 2019, with year-over-year... Read More
March 30, 2020
Based on member inquiries, AGC updated our CARES Act analysis as it applies to small business eligibility for the new Small Business Administration (SBA) loan program. Those changes are noted below. A business is eligible for such a loan if it employs 500 employees or fewer, or if the business is... Read More
March 27, 2020
After 42 States Added Jobs in February, Coronavirus is Taking a Swift and Severe Toll on the Industry, Prompting Association Officials to Call for Additional Measures to Help Workers and Firms Recover Thirty-nine percent of contractors report that project owners have halted or canceled current... Read More
March 27, 2020
AGC of America’s government relations team has combed through the details of the coronavirus relief bill set for passage in the House. They provided this initial analysis of what is in the bill and how it will impact the construction industry. We will, of course, share even more details as we... Read More
March 26, 2020
On March 25, the Senate passed the largest economic aid package in our nation’s history. On a 96-0 vote, the $2 trillion bill—the Coronavirus Aid, Relief, and Economic Security (CARES) Act­­—passed the Senate and is soon expected to be approved by the House and signed into law­­. This legislation... Read More
March 24, 2020
On March 18, AGC, along with other coalition partners, urged Congress to support compensation for federal contractors during the COVID-19 outbreak. Legislative language was included in the letter to authorize contract equitable adjustments in cases where federal facility access limitations or... Read More
March 20, 2020
Coronavirus-caused Slowdown Contrasts with January Figures Showing a Majority of Metro Areas Added Construction Jobs; Officials Note New Infrastructure Funding and Paid Family Leave Fixes are Needed The coronavirus pandemic has caused more than one out of four contractors to halt or delay work on... Read More
March 19, 2020
On March 18, AGC joined a host of other business groups in calling on Congress to enact a number of tax-related measures to safeguard companies, regardless of size, during the COVID-19 outbreak. This includes policies such as immediately providing accessible, unsecured credit to businesses, suspend... Read More
March 17, 2020
Construction Firms Are Already Taking Steps to Protect Employees, Most of Whom Already Wear Protective Equipment, While Halting Work Will Undermine Efforts to Add Hospital Capacity The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, issued the... Read More
March 16, 2020
Texas and Utah Have Biggest Number and Percent of Annual Job Gains, While Louisiana and West Virginia Lag; New York and New Hampshire Have Largest Monthly Gains, Washington Has Biggest Decreases Construction employment increased in 32 states in January compared to both December and January 2019,... Read More
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