Inflation + Labor Shortages Weigh Down Construction Industry in 3rd Quarter, Finds Marcum Index

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The Marcum Commercial Construction Index for the third quarter of 2021 reports that the construction industry’s recovery slowed during the summer in the face of labor shortages and rising material prices. Nonresidential construction spending remains 10.7% below January 2020 levels, but is 1.3 lower than it was one year ago. The index is produced by Marcum’s National Construction Services group. “The nonresidential construction segment added 33,000 net new jobs in October 2021 and supports 46,500 more jobs than it did in October 2020,” said Anirban Basu, Marcum’s chief construction economist and author of the report. “But a majority of that … Read more

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Partnership Helps Skilled Trades Job Seekers

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In recent years, a skilled talent shortage has plagued the construction industry. Some organizations suggest the deficit has become a crisis, especially given the coming infusion of federal infrastructure funds and the growing need for workers. To help individuals of all backgrounds benefit from these opportunities and prepare the industry to meet increased demands, the SkillPointe Foundation and Building Talent Foundation have partnered to help develop, place and support skilled construction industry workers. Under this new partnership, BTF will provide career coaching and job placement services at no cost to SkillPointe Scholarship recipients seeking residential construction industry jobs, and SkillPointe … Read more

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Two-Thirds of Metro Areas Add Construction Jobs from October 2020 to October 2021

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Nearly two out of three U.S. metro areas added construction jobs between October 2020 and October 2021, according to an analysis by the Associated General Contractors of America of government employment data. Association officials noted that the job gains would likely have been larger and more widespread if firms weren’t dealing with the twin challenges of supply chain problems and labor shortages. “While it is heartening that construction is recovering from the lows of 2020 in much of the country, the pandemic is still causing major supply-chain problems and is keeping some workers from seeking employment,” said Ken Simonson, the … Read more

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2021 Impact Review Reports Progress toward Building Sustainable Residential Construction Workforce

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Nonprofit organization Building Talent Foundation has released its first Annual Impact Review highlighting the foundation’s progress toward building a sustainable residential construction workforce by 2030. BTF collaborates with builders, trade partners, manufacturers, foundations and educational partners to enhance people’s lives by connecting them with job skills training and career opportunities. Ultimately, BTF projects these connections will result in 10,000 job-ready candidates in the construction sector in the next year. As part of its effort to connect candidates with employers and training programs, BTF led 387 events during 2021, including hiring and career events, job fairs and presentations. Through these events, … Read more

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One-Fifth Metro Areas Lost Construction Jobs between September 2020-2021, Reports AGC

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Nearly one-fifth of U.S. metro areas lost construction jobs between September 2020 and September 2021, according to an analysis by the Associated General Contractors of America of government employment data. Association officials noted that the job losses are occurring in many metro areas as plans to boost investments in infrastructure languish in Washington and firms cope with shortages, delivery delays and construction materials price increases. “Many metro areas are having a hard time getting back to construction employment levels from last fall that were already low because of the pandemic,” said Ken Simonson, the association’s chief economist. “The challenge is … Read more

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