Thursday, September 12, 2019

Labor Shortage Continues to Hamper Construction

Builders are already feeling the pain and delays as the shortage of construction workers across the nation worsens. With the shortage also comes longer build times and potentially higher prices.

There are a lot of projects and a big need in the industry but there's not enough people to do it that are skilled and know the trade. Some estimates have the industry about 350,000 workers short of pre-recession numbers, and that definitely affects both single family housing and projects.

Building costs have increased because of supply and demand. Hourly wages and the cost to finish a project have increased because of this labor shortage.

A series of factors contributed to the shortage, including more people going to college and moving towards office or tech jobs but there's a lot more opportunities in this industry because it is kind of a forgotten industry as more people want to work in cubicles and not with their hands.

With numbers indicating a growing population for the US, construction job opportunities aren't expected to slow down.

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