New data from Trimble Viewpoint’s Quarterly Construction Metrics Index shows increases in construction hiring and cash flow – positive signs indeed!
As reported by Equipment Today magazine, some indicators in 1Q 2022, gleaned from surveys of 1,000 construction companies, were down when compared year-over-year, including new projects and contract values. Others, however, like hiring and cash flow saw increases, demonstrating that contractors are gearing up to launch new projects, likely in connection with the recently passed $1.2 trillion Bipartisan Infrastructure Law.
- Net hiring increased 16% compared to Q4 and 3% compared to Q1 2021. Even modest hiring gains are worthy of celebration. Contractors appear to be ramping up their workforces to help them prepare for larger projects down the road.
- Cash flow increased 25% compared to Q4 and increased 28% compared to Q1 2022. Well before the pandemic, many contractors were squirreling money away into their rainy day funds to weather potential storms ahead. Now contractors appear ready to start spending again, signaling that confidence is high despite continuing industry challenges.
As construction activity heats up, especially public works projects related to the Infrastructure Law, two Double Coin OTR radials that will see significant service are the REM-9 (E4) haulage tire and the REM-2 (E3/L3) earthmover/loader tire.
Available in 13 sizes, the REM-9 (pictured to the right) features special compounds that provide outstanding durability in the toughest work environments, as well as extended tire life and long-term retreadability.
Its non-directional center rib tread pattern enhances off-the-road traction, and a deep tread depth contributes to long tread life in a wide variety of conditions.
The REM-2, featuring an aggressive self-cleaning tread design, is engineered to deliver a smooth ride and superior traction in all types of terrain. An OEM Certified OTR radial, the REM-2 casing design promotes retreadability and durability.
Available in 14 sizes, you can count on the REM-2 to provide dependable traction in sand, stone, mud and other surfaces encountered on construction and mining sites.