The latest U.S. Chamber of Commerce Commercial Construction Index (CCI) report shows contractors are still confident that they will find new business opportunities over the next 12 months, despite increasing concern over a lack of skilled workers.
According to the quarterly report, which is released by the U.S. Chamber of Commerce in conjunction with USG, 51 percent of contractors are very confident they will receive new business in the next 12 months, with 47 percent saying they are moderately confident. About half predict their revenue will stay flat, while another 47 percent believe they will see revenue increase. Of the respondents that predicted an increase, 70 percent were from companies with revenue over $100 million.
While there seems to be little concern over new business, many respondents believe that finding skilled employees will be a struggle. 55 percent of respondents say they are “highly concerned” about the skill level of the workforce with 34 percent saying they are moderately concerned. More than half of the respondents, 58 percent, consider the lack of skill the top safety risk factor in the industry.