Everyone knows that the global economy has been shaky for several years now, and later the COVID-19 Pandemic surfaced. Everything again started to go on a downward spiral, especially in New York. Recent statistics reveal that in April 2020, the unemployment rate was at about 14.7 percent- this is the highest rate of unemployment in the USA since the Great Depression, and the GDP declined by 4.8 percent.
Now, the question is, will people in the USA just sit back and watch their economy fall, or should the people salvage what is left from the economy to bounce back? This is what every forward-thinking professional is asking themselves- what is going to happen now, and how will the economy be saved?
Reddy Kancharla – A specialist in the civil engineering industry speaks
Reddy Kancharla is a reputed civil engineer and geotechnical consultant in the USA with more than 25 years of invaluable experience in the construction industry in New York. He says that as per the Association General Contractors of America, the construction and civil engineering sector bears more than 7 million employees and creates infrastructures that are worth approximately $1.3 trillion annually. It is correctly presumed that if there is one industry that can drive the economy to the path of recovery, it is the civil engineering industry.
He says that if the government makes the right strategic moves with key players in the construction industry, it will start to ease the current construction industry’s weight. The effect will finally rub off other sectors giving the much-required boost to the nation’s economy. Now, the next question that you might consider is -How?
What measures can key players in the construction industry embrace to help the economy of the nation bounce back?
The following are some of the key measures that the civil engineering industry in New York can take for helping the economy of the nation to bounce back-
- Adapt to the health crisis proactively- Worker safety should be placed at topmost priority today if they are to return to work. Training about the Pandemic and general hazards is the need of the hour to prevent accidents, mishaps, and injuries.
- Recognize the construction industry as a major pillar of the nation’s economy- This Sector shelters the public as it brings development pertaining to roads, schools, hospitals, education, and more. It is safe here to refer to the construction industry as the pillar of the economy.
- Embrace Blue-Green Infrastructure- This refers to the management of water alongside landscape. The idea here is to create buildings with nature to address major climatic and weather challenges.
- Absorb labor from regions that have been impacted by the COVID-19 Pandemic severely- Many Americans, including workers in the construction industry, lost their jobs due to the Pandemic. Most of the jobs in New York that people lost were blue-collar or informal jobs. Construction workers generally work on a temporary basis, and their services are discharged once the project is completed. This means that a huge volume of people was without employment when construction projects were placed on hold.
Reddy Kancharla sums up by saying that the civil engineering industry can play an instrumental role in helping the national economy recover with success in the future with the above measures.