Association Survey and Data Collected by Procore Measure Impacts of the Pandemic, Showing Signs of a Construction Recovery, but Labor Shortages and Project Cancellations Show Industry Needs Federal Help

Gains in May Reflect Temporary Support from Paycheck Protection Program Loans and Easing of Construction Restrictions, But Hobbled Economy and Tight State and Local Budgets Risk Future Job Losses

With Needed Improvements to the Vital Survival Program Complete, Construction Official Urges Congress and the President to Act Quickly on Measures to Rebuild the Economy and Restore Jobs

New York City Has Largest Job Loss, Montgomery-Bucks-Chester County, Pa. Has Worst Percentage Loss As Coronavirus Pandemic Drives Rampart Decreases in a Month When Industry Typically Adds Employees

Study Finds That Participants Will Receive Higher Benefits with a Composite Plan than a Multi-Employer Retirement Plan, and That More Employers are Likely to Participate in the New Model Once Authorized

New Federal Investments in Transportation, Other Types of Infrastructure Will Help Offset Expected Declines in State and Local Funding as State Budgets Suffer Impacts of Coronavirus Lockdowns

On May 12, 2020, the Associated General Contractors and other construction contractor groups called on Congress to address the growing multiemployer pension crisis in a letter. While Congress debates the next round of COVID-19 related stimulus legislation to address the unprecedented public health emergency the multiemployer pension crisis has been growing. Construction industry plans account for over half of all multiemployer defined benefit plans and cover nearly four million multiemployer defined benefit participants.