Construction Lost as Much as $40B on Poor Productivity in 2022

October 19, 2023

U.S. contractors wasted between $30 billion and $40 billion in 2022 due to labor inefficiencies, and it appears to be getting worse, according to a new survey from FMI Corp. Nearly half of respondents (45%) said they saw declining labor productivity on their jobsites in the last 12 to 18 months, compared to 23% who claimed improvements. The report describes labor as “the largest, riskiest, yet most controllable variable cost” in construction and said that these problems could worsen in coming months.

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