To help you understand what is going on as the economy rebounds and what we expect to happen in the future, our highly-experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts (Get a free issue of The Kiplinger Letter or subscribe). You'll get all the latest news first by subscribing, but we will publish many (but not all) of the forecasts a few days afterward online. Here’s the latest...
Construction forecast. One way to measure the impact of the recent federal infrastructure bill: construction backlogs. In June, they held steady at 8.9 months, the same as in May. This refers to projects contractors have booked but haven’t yet started. In June, the backlog of infrastructure projects increased for the third straight month. It’s at its highest level in two years, due partly to a big rise in clean-energy projects.
Meanwhile, the other major construction categories, commercial and heavy industrial, are seeing both monthly and year-over-year declines as the economy gradually slows. Reasons for the logjam: government red tape, such as required permits and federal approvals, and an industrywide shortage of skilled construction labor.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Regulatory changes. Regulators are clarifying personal protective equipment requirements for the construction industry, after years of lobbying by labor groups and by the Occupational Safety and Health Administration's (OSHA) internal advisory committees. Changes will focus primarily on ensuring that PPE fits workers properly.
OSHA currently requires construction employers to provide workers with PPE that is high-quality. But the agency does not require the PPE to fit properly, which can make it ineffective or make loose-fitting vests snag, among other risks. The rule change will affect around 10% of the construction workforce. There are costs to transition, but PPE cost differences based on size are minimal.
This forecast first appeared in The Kiplinger Letter, which has been running since 1923 and is a collection of concise weekly forecasts on business and economic trends, as well as what to expect from Washington, to help you understand what’s coming up to make the most of your investments and your money. Subscribe to The Kiplinger Letter.
Related Content
- 13 Best Infrastructure Stocks for America's Big Building Spend
- 3 Infrastructure ETFs to Harness the Spending Boom
- Kiplinger Inflation Outlook: Easing, but Core Inflation Stubbornly High
- Biden Administration Considering Raft of Changes to Labor Rules: Kiplinger Economic Forecasts
- Shortage of electrical engineers to power labor market growth: Kiplinger Economic Forecasts
-
‘I Play Pickleball in Retirement.’ Is It HSA-Eligible?Retirement Tax Staying active after you retire may be easier with these HSA expenses. But there’s a big catch.
-
What New Tariffs Mean for Car ShoppersThe Kiplinger Letter Car deals are growing scarcer. Meanwhile, tax credits for EVs are on the way out, but tax breaks for car loans are coming.
-
What New Tariffs Mean for Car Shoppers
The Kiplinger Letter Car deals are growing scarcer. Meanwhile, tax credits for EVs are on the way out, but tax breaks for car loans are coming.
-
AI’s Rapid Rise Sparks New Cyber ThreatsThe Kiplinger Letter Cybersecurity professionals are racing to ward off AI threats while also using AI tools to shore up defenses.
-
Blue Collar Workers Add AI to Their ToolboxesThe Kiplinger Letter AI can’t fix a leak or install lighting, but more and more tradespeople are adopting artificial intelligence for back-office work and other tasks.
-
America's Surprising Strengths in Manufacturing and ExportsThe Kiplinger Letter Despite common perceptions that the U.S. doesn't build things anymore, American factories are still hard at work. A special report from The Kiplinger Letter.
-
Will State Laws Hurt AI’s Future?The Kiplinger Letter Republicans in Congress are considering a moratorium on state AI laws. But it’s likely a growing patchwork of state AI regulations will be here for a while.
-
The New AI Agents Will Tackle Your To-Do ListThe Kiplinger Letter Autonomous AI agents “see” your computer screen, then complete a task, from buying a concert ticket to organizing email. This opens up a world of possibilities.
-
AI’s Medical RevolutionThe Kiplinger Letter Medicine is a field ripe for finding both exciting and practical uses for AI. The tech is already being used by doctors and researchers.
-
The Economic Impact of the US-China Trade WarThe Letter The US-China trade war will impact US consumers and business. The decoupling process could be messy.
