The Rising Cost of Goods and Services in the Construction Industry

In the past two years, lead times in the construction industry have exploded. The lead times are due to supply shortages as well as the lack of labor in the United States. Businesses are finding it very hard to keep up with demand and this is causing prices for goods and services to increase significantly. This shortage of qualified employees and increased lead times will lead to even more inflation in the construction industry. Builders, construction workers, lead times, goods and services, inflation, construction industry.

It is hard to find people who are willing to do the job, and this is causing businesses to not be able to keep up with demand in the construction industry. The lead time for a project has increased from an average of a few weeks to a few months. This lead time is due to the lack of labor as well as several other factors. The lead times have increased due to supply shortages as well as the lack of labor in the United States. It is very hard to get people back to work and in turn this causes businesses to not be able to keep up with demand in the construction industry.

The cost of building materials has also increased due to tariffs that have been placed on imported goods. The cost of lumber has increased by 30%, while the price of steel has increased by 15%. These increases in the cost of materials are then passed on to the consumer in the form of higher prices.

In turn, the consumer always seems to get the short end of the stick. The lack of labor in the United States has caused a domino effect on the construction industry. Until we find a solution to the lack of labor in the United States, the cost of goods and services in the construction industry will continue to rise.