05/24/2024
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The construction industry has been facing a labor shortage for the past several years. But in 2022, it reached โcrisis levelโ. Thatโs according to the CEO of the Home Builders Association.
In April 2022, there were 494k jobs open in the construction industry. Thatโs a 40% increase over April 2021 and the largest total openings since they began tracking the data in 2000.
They go on to say that these numbers wonโt be much lower in 2023. During that year, the industry will need 590k new workers on top of the normal hiring rate.
The shortage of workers is impacting project timelines and completion rates. In a recent survey, 89% of construction firms reported having difficulty in filling positions and 61% said they are experiencing project delays due to the labor shortage.
On the bright side, enrollment in construction industry trade courses at community colleges has gone up 5% between 2019 and 2021.