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Construction Economy Shows Promise
Consumer confidence is at a seventeen year high and unemployment is at a seventeen year low. In fact, some economists are saying that we are currently very close to full unemployment - which may well have implications for your ability to find qualified workers and the wages needed to attract and retain them.
Seasonally-Adjusted National Unemployment Rates:
So with unemployment rates low, consumer confidence high, what has the last year brought to the stock market? In short, it's been a spectacular year with the Dow up over 20%.
In housing, sellers are seeing the sale of existing homes faster than anytime since 2009 when this data was first systematically collected. With competition for homes strong, and expected to get stronger, it's not much of a jump to see the large home builders stepping up to meet this demand, which is great news for CWS providers, some of which have relied mostly on commercial or infrastructure projects. If the proposed reduction in the corporate tax rate from 35% to 20% is passed, it could stimulate the construction industry still further by making investment more attractive.
Here at CWS, our experience makes us hopeful that the next two years will bring at least a 50% increase in demand, on average, across the country. Here's to your success!