Construction: Material and labor availability constrain recovery

Despite enduring its share of challenges during the past 18 months, the construction industry has recovered quickly by most measures, according to JLL.

Employment is nearing pre-pandemic levels, new construction starts are growing, and demand for architectural work remains strong. Yet two big challenges remain for construction. First, supply-chain delays and record-high cost increases continue to put pressure on project execution and profitability. Second, the delta variant and future waves of the pandemic have the potential to slow economic growth, weakening the construction rebound and calling into question some of the rosier predictions for 2022.

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