The Impact of Immigration Policy on Labor • Labor availability remains a concern for the industry. Against the backdrop of an ongoing skilled labor shortage, tightened immigration policy has introduced additional uncertainty. Approximately one-third of U.S.-based respondents expressed concern about the potential impact on their labor force. Unsurprisingly, markets that serve as traditional immigration hubs reported higher levels of concern.
• Tariff-related cost concerns remain prevalent. 69% of respondents believe tariffs will continue to exert upward pressure on vendor pricing over the next six months. However, just over half expect tariffs to directly drive increases in their own service pricing. This divergence further reinforces the theme of partial cost absorption and competitive restraint within the contractor community.
Winter 2026 Survey: To what extent do you expect tariffs to impact pricing over the next six (6) months at …?
Winter 2026 Survey: How concerned are you about immigration policy im- pacting your labor force?
Midwest U.S. Northeast U.S. South U.S. Southeast U.S. Tri-State U.S. West U.S.
20%
80%
33% 33%
67%
GC's Suppliers
6%
26%
69%
33%
33%
40%
60%
33% 33%
67% 67%
General Contractors
9%
40%
51%
United States
4%
4%
33%
59%
Decrease Significantly Decrease Slightly
No Change
Increase Slightly
Increase Significantly
Not at all
Slightly Concerned
Moderately Concerned
Significantly Concerned
Source: Cushman & Wakefield Research
Source: Cushman & Wakefield Research; Note: Responses regarding the impact of immigration policy were limited to United States general contractors
• Material lead time expectations remain largely stable compared to the prior year, with most respondents anticipating no significant change. However, regional variation has widened. Contractors in Latin American markets were more likely to expect longer lead times, reflecting localized supply chain constraints. Conversely, respondents in the Western United States expressed greater optimism, with a higher share anticipating shortened lead times.
Material Lead Times: Next 6 Months
Winter 2025
7%
72%
19%
1%
Winter 2026
11%
66%
16%
8%
Decrease Significantly Decrease Slightly
No Change
Increase Slightly
Increase Significantly
Source: Cushman & Wakefield Research
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Cushman & Wakefield
Office Fit Out Cost Guide 2026
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