ABC-SEMI Issue 4, 2020

CONSTRUCTION FORECAST projects were postponed due to economic uncertainty, only to be reopened and even expanded in some situations. While he expects available work to “level back out,” he doesn’t expect the industry to experience layoffs any time soon. Releasing an additional revised forecast for the U.S. and Michigan economies, the University of Michigan’s Research Seminar in Quantitative Economics acknowledges it will take several months to get an accurate picture of the economic damage caused by the COVID-19 pandemic. continues on page 10 >> Economists projected payroll job count is expected to fall by nearly 1.2 million in the second quarter of 2020. For comparison, Michigan lost about 140,000 jobs in the first quarter of 2009, during the depths of the Great Recession. Southeast Michigan Contractors Issue 4 2020 9