Deepening Labor Struggle Driving Future of Construction

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The construction labor shortage continues to deepen nationally, evident by a historically low unemployment rate of 4.5 percent. There has been minimal growth in the workforce over the last nine months, with no sign of an increase. Because of this, industry professionals can expect project timelines to be extended, wages to increase at a faster rate and all eyes focused on construction technology to offset these challenges. Despite this, the industry continued to hit a mature stage of economic expansion in the third quarter, according to a new report from JLL that tracks national construction trends. Construction spending was up … Read more

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Retail Innovation, Renovation Drive Construction Growth in 2016

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CHICAGO, Ill. — A strong retail sector has helped drive 2016 U.S. construction activity with retail construction projects up 24.4 percent year-over-year. But overshadowing the good news is a cloud of economic uncertainty that has companies laser-focused on Lean budgeting and smart spending decisions. According to JLL’s latest report on nonresidential construction activity, U.S. construction employment grew 4.7 percent in the first quarter of 2016 over the first quarter of 2015, with many workers engaged on retail projects. Concerns about China’s steep economic deceleration, combined with a drop in U.S. gross domestic product from 1.4 percent in the fourth quarter … Read more

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