Construction Industry Must Attract 439,000 Workers in 2025, Says ABC

  • Posted on

The construction industry will need to attract an estimated 439,000 net new workers in 2025 to meet anticipated demand for construction services, according to a proprietary model developed and recently released by Associated Builders and Contractors. In 2026, the industry will need to bring in 499,000 new workers as spending picks up in response to presumed lower interest rates. “While the construction workforce has become younger and more plentiful in recent years, the industry still must attract 439,000 new workers in 2025 to balance supply and demand,” said ABC Chief Economist Anirban Basu. “If it fails to do so, industrywide … Read more

Filed under: Economic News, eNewsTagged with: , , ,

Persistent Workforce Shortages Challenge Commercial Construction Industry

  • Posted on

The Q1 2018 USG Corporation + U.S. Chamber of Commerce Commercial Construction Index reveals nearly two-thirds of contractors are highly confident that demand for commercial construction will increase over the next year, however, continued concerns around labor shortages have put even greater pressure on the industry. To increase jobsite efficiency and improve labor productivity, increasingly more builders are turning to alternative construction solutions, like prefabrication and modularization. The Q1 Index indicates contractors turn to innovations such as prefabricated and modular building materials to create more efficient jobsites (89 percent), increase labor productivity (85 percent), drive cost savings (58 percent) and … Read more

Filed under: Economic News, eNewsTagged with: , , , ,