Construction Must Evolve to Address the Labor Shortage

May 16, 2022
Matt Daly - Construction Executive

There is a lot of good news in construction. PwC reported that in 2021 engineering and construction deal volume surpassed pre-pandemic levels. The firm also noted that construction is “well-positioned” for 2022. ConstructionConnect recently forecasted that the put-in-place investment in U.S. construction spending will increase 6.6% this year, and another 8.4% in 2023. Consider passage of the Infrastructure and Jobs Act, and the doors are open for significant projects all across the country. Plus, home prices are up, delivering new residential building opportunities and increased property tax funds filtering back to state and local governments that can be reinvested in construction initiatives.

All of these promising statistics come in spite of inflationary pressure, supply chain issues and rising material costs. The construction industry is growing at a healthy clip–even after the major hit it took during the height of the pandemic and the challenges that lie ahead. But, to capitalize on new opportunities and continue along the growth trajectory, certain things need to happen.

Reprinted courtesy of Matt Daly, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.


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