Risk Trends in New York Construction

Construction is a high-risk industry. When things go wrong, they tend to go very wrong. To keep you abreast of the current dangers, here’s a look at the risk trends in New York construction that we’re seeing now.

The New Omicron Variant

A new variant of the COVID-19 virus has emerged. According to the CDC, the Omicron variant has been detected in multiple states, including New York. The variant is thought to spread more easily than the original strain, but more data is needed before we can understand the severity of the illness.

With this new variant, COVID safety continues to be a priority for the construction industry.

Vaccine Mandate Pushback

A federal COVID vaccine mandate for private-sector workers was supposed to go into effect in January, but the Senate has passed a resolution to repeal the requirement. According to NBC, the resolution has to go to the Democrat-controlled House, where it faces long odds.

In the meantime, the delay is adding confusion to the already divisive topic. Engineering News-Record conducted a poll and found that only 40% of respondents supported the vaccine mandate, although 73% were already vaccinated. In New York City, all city and contracted staff are required to be vaccinated or to undergo weekly testing.

Labor Shortages, Supply Chain Issues and Backlog

Labor shortages and supply chain issues are continuing to cause problems for contractors.

According to the U.S. Chamber of Commerce Q3 2021 Commercial Construction Index, 92% of contractors say they are having a moderate to high level of difficulty finding skilled workers. Meanwhile, 98% of contractors say that material cost fluctuations are having a moderate or high impact on their business. Lumber and steel are the top concerns in terms of cost fluctuations right now.