ECONOMIC OUTLOOK AND INDUSTRY EXPANSION 8 %


More Than


of contractors revenue


More Than


of contractors are optimistic


same or increase in 202 .


in 202 . % 65%


of contractors believe that construction will expand or stay the same in 202 .


TOP CONCERNS FOR 2023


of contractors project hiring will stay the same or increase in 202 compared to 202 .


82%


• Potential recession • Workforce pipeline development • Regulatory requirements • Increased pay and benefits


About 49% of respondents felt optimistic about California’s construction industry overall, outnumbering those respondents with a more pessimistic outlook (25.5%) by nearly two to one. One-quarter of respondents were “neutral” (neither optimistic nor pessimistic) in their outlook.


A strong 70.4% of respondents said they were optimistic about their own companies’ prospects and success in 2023.


CALIFORNIA CONSTRUCTOR MARCH/APRIL 2023


27


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