The wide-reaching impact of the Coronavirus (COVID-19) emergency has left many Atlanta businesses shut down or operating under a vastly different business model. The convergence of stay at home and forced business closures have left many dealing with never before seen circumstances. While there are certain essential businesses exempt from these orders, the significant increase in state unemployment claims reflects the difficult decisions being made. In the construction industry where finding skilled labor has been a persistent issue for years, it appears the disruptions are also taking a toll. According to the Associated General Contractors (ACG) Coronavirus Survey Results, construction employment has reduced by 29,000. This sharp decrease reflects the changing and volatile nature of the economy and impact on current and future construction projects. To help clients, prospects, and others, Wilson Lewis has provided a summary of key survey findings below.
Key Survey Insights
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Since the survey was conducted at the end of March, it’s expected for these numbers to change as the COVID-19 emergency continues. The survey findings provide interesting insights into how industry companies will be impacted in the coming months. If you have questions about the information outlined above or need assistance with a tax analysis or other issue, Wilson Lewis can help. For additional information call us at 770-476-1004 or click here to contact us. We look forward to speaking with you soon.
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