Construction Firms Cite Labor as Biggest Challenge Despite Slowdown in Starts
Date Posted: September 19, 2023
Posted In: News, Workforce,
From St. Louis Business Journal: The U.S. construction market is starting to shift in the wake of less work from the private sector and ramped-up spending in industries like infrastructure and manufacturing, bolstered by federal incentives.
And while supply-chain issues and higher materials prices have normalized since the peak of the Covid-19 pandemic, inflation, higher interest rates and — most notably — labor shortages are challenging company leaders across the industry.
The Associated General Contractors of America, in partnership with Autodesk Inc., in its annual workforce survey released this month found 88% of construction firms are having a hard time finding workers to hire. More than 1,400 firms in the construction industry completed the survey in late July and early August.
General contractors are struggling to find not only skilled laborers, but also workers who have even basic skills to work in construction. According to the AGC survey, 68% of firms say applicants lack skills needed to work in construction.