Features

SMU Community Chat: June 25 With AGC Chief Economist Ken Simonson
Written by Michael Cowden
June 11, 2025
Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will be the featured speaker on the next SMU Community Chat webinar on Wednesday, June 25, at 11 a.m. ET.
The live webinar is free. A recording will be available free to SMU members. You can register here.
We’ll have a lot to talk about because construction is at the intersection of so many of today’s hot-button issues. The main question: Will construction thrive or dive in the rest of ’25? (Nothing wrong with a rhyme, even in serious times.)
To answer that, Simonson will discuss the effect of tariffs on costs for steel and other building materials. He’ll also explore the impact of the Trump administration’s immigration crackdown on a construction workforce that relies heavily on immigrant labor. (Did you know that more than 60% of drywall installers and more than 50% of roofers were born abroad?)
Then there is the matter of interest rates. Builders might want to see the Federal Reserve lower rates before they unleash new projects. But the Fed, leery of potential tariff-related inflation, might not have much leeway to cut rates. What gives?
We’ll analyze it all through the lens of the latest data. Among the highlights: changes in construction spending by category, construction employment nationally and by state, and materials costs.
Why should you listen?
Because the construction sector matters to your business. And because AGC is the leading association for the US construction industry, with more than 27,000 member firms across a range of markets. Also, Simonson has been chief economist at AGC since 2001, so he has seen more than a few construction cycles.
As always, we’ll keep it to about 45 minutes. You can drop in, learn something – and then get on with your day. We’ll take your questions too. So remember to think of some good ones for the Q&A.
Editor’s note
If you’d like to see past Community Chat webinars, you can find those here. I suggest checking out a couple of good ones that we’ve recorded over the last month with two of our most popular guest speakers: Barry Zekelman, CEO and executive chairman of Zekelman Industries, and Timna Tanners, managing director at Wolfe Research.

Michael Cowden
Read more from Michael CowdenLatest in Features

Final Thoughts
Algoma Steel has publicly confirmed that it might scale back its presence in the US market. It's no secret why: 50% Section 232 tariffs remain in place against Canada, which has traditionally been one of our closest allies.

US ITC determines 10 countries have dumped CORE steel
The US International Trade Commission (ITC) finds that corrosion resistant steel (CORE) imports from 10 countries have caused material damage to domestic product producers, according to the ITC’s statement.

Final Thoughts
Are you ready to share what you'd like to see happen with the USCMA agreement when it comes up for joint review?

Ex-USW President Gerard passes away at 78
Former United Steelworkers (USW) union International President Leo W. Gerard has died at the age of 78.

AISI: Domestic steel production eases
US raw steel production eased last week for the second-consecutive week, according to the latest figures published by the American Iron and Steel Institute (AISI). While down, production remains historically strong, holding near multi-year highs since June.