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Chart of the Month: The Numbers Behind Construction’s Concerning Labor Shortage

Data Blocks
Data Blocks

Contractors are eager to hire labor to keep up with the increased demand for new construction, but are hard pressed to find enough skilled labor to employ. While the country’s construction industry is expected to grow by 12% in the next 12 years, employers continue to struggle to recruit and retain skilled workers. According to the US Chamber of Commerce’s Q2 Commercial Construction Index, 87% of contractors are concerned about finding employees with adequate experience, leading to growing concerns of an increase in the cost of labor.

Sources: The Bureau of Labor Statistics, The BLS July Employee Statistics Highlights, CNBC, US Chamber of Commerce's Q2 Commercial Construction Index

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