Engineering Influence from ACEC
News:Business News
The latest episode of the Engineering Influence Podcast, produced by the American Council of Engineering Companies, highlights the Q1 2024 Engineering Business Sentiment Study from the ACEC Research Institute. Download the new report here: https://programs.acec.org/impact-report-21/.
The report indicates an upbeat start to 2024 with a significant positive US economic sentiment. Recession fears have eased, and robust macroeconomic indicators, such as high GDP and low unemployment rates, reinforce the optimistic industry outlook. However, political uncertainty around election year remains a significant worry for future expectations.
The episode delves into the appetite for infrastructure work and the recovery signs in the Commercial Real Estate sector. It also highlights hiring challenges currently dampening industry expansion but indicates increased hiring anticipation amongst firms. A lack of sufficient workers, however, is driving firms to reject business offers and calls for immediate solutions.
The role of Artificial Intelligence (AI) as a potential solution to labor shortage also gets spotlighted in this episode. With a significant number of firms using or developing AI strategies, the overall sentiment is positive about the impact of AI in the year ahead.
Lastly, the episode discusses the importance of effective forecasting and modeling, using a decade’s worth of data. Despite workforce concerns, other indicators suggest a shift towards positivity in the economy, providing a promising glimpse into what lies ahead in the engineering industry.
The Economic Outlook with FMI’s Jay Bowman
Member Firm Spotlight: Olsson
The New Playbook with the Army Corps of Engineers
Member Firm Spotlight: Pennoni
The Moving Forward Initiative at Stolfus & Associates, Inc.
Private Market Update: A Closer Look at the Ports and Intermodal Markets
Update from the ACEC Retirement Trust
Previewing ACEC’s New Course on Diversity, Equity, Inclusion and Belonging
Reviewing the Q1 2023 Engineering Business Sentiment Study
Looming Federal Ban on Non-Compete Agreements – What You Need to Know
Discussing the EJCDC CMAR Document Series
A Closer Look at the Intermodal and Logistics Market
The Road Ahead: A Preview of Congress and the Race to 2024
ACEC, APWA, and ASCE Discuss the Engineering and Public Works Roadshow
Catching up with the ACEC Retirement Trust
Introduction to the ACEC Legal Council Forum
A Conversation with Gary Raba - Chair-elect for 2024-2025
A Conversation with Incoming Vice Chair Derek Clyburn of North Carolina
An interview with incoming ACEC vice chair, Dan Meckes of Missouri
An interview with incoming ACEC vice chair Elizabeth Stolfus
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