The Biden Administration released an update regarding the state of the building industry in the wake of the COVID-19 pandemic and the economic crisis that followed. Speaking specifically to the supply chain disruptions that ensued, the statement from the White House press room acknowledged that many American families were forced to navigate empty store shelves, endure longer delivery times, and pay higher prices due to supply chain bottlenecks. Those bottlenecks also affected critical inputs, such as semiconductors, and a White House statement said the situation exposed major U.S. economic and national security vulnerabilities.

Supply chains were also negatively affected by Russia’s unjust invasion of Ukraine. White House officials say the two factors combined—the pandemic and the war—contributed to a surge in input costs and inflation across many sectors of the economy.

In a recent statement, the Biden-Harris Administration made supply chain resilience and response a priority, collaborating with industry and labor to address acute shortages and bottlenecks throughout the economy. As a result, the Administration says, critical supply chains are significantly more fluid and resilient than they were when the President took office.

“Today, we see increased access to transportation and warehousing capacity and equipment, solid throughput at the ports, improved delivery times, greater ocean shipping reliability, and steady declines in transportation costs,” the statement said.

Specifically, the government reports that:

  • The nation’s ports moved record levels of cargo in 2021 (25.8 million units) and 2022 (25.5 million units) through increased collaboration across the logistics industry, which has helped reduce the significant backlog of anchored vessels from a peak of 155 to roughly a dozen in May 2023;
  • 92% of goods at grocery and drug stores are in stock—above where they were pre-pandemic;
  • There now are more than 120 new trucking firms with registered apprenticeship programs to help attract, train, and retain talent in this critical sector; and
  • The New York Fed’s Global Supply Chain Pressure Index has eased off of its highest level on record.All of this has happened, the Administration says, alongside a historic surge in East-West ocean shipping prices, which have fallen by roughly 90% since their peak in September 2021, as well as a 30% drop in gas prices since their summer 2022 peak. Moreover, annual core goods inflation has fallen more than 65% since its peak in February 2022.

The full White House “report card” can be found HERE laying out actions taken across more than two dozen of the most significant cross-cutting recommendations in the 100-day review.

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