Economics, labor shortages, supply chain woes keep construction execs up at night

Top executives of downtown Phoenix’s largest construction firms remain uneasy despite the increased number of construction cranes. Concerns center around challenges in funding construction loans and refinancing real estate, fluctuations in the overall economy due to interest rate hikes, a shortage of skilled labor in the Phoenix market, and the potential impact of a recession. These executives emphasize the need for industry-wide attention, cooperation, and a different mindset to address the labor shortage. They also highlight the importance of lifelong learning and engaging in various avenues to retain skills in today’s rapidly changing workforce.

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