Nationally, the construction industry has recovered more quickly than other industries, with employment nearing pre-pandemic levels and increasing new construction starts. But the continuing labor shortage is hamstringing the construction industry’s growth, requiring general contractors to be shrewd and proactive to successfully navigate today’s tight job market.
Construction-related businesses need to hire 740,000 new workers annually for the next three years to keep up with demand, according to several industry organizations. The number of open construction sector jobs currently averages between 300,000 and 400,000 each month.
The construction labor shortage will undoubtedly impact every organization that wants to build a new facility or improve an existing one. With that in mind, executives planning construction projects over the next three years should carefully vet their general contractor to make sure it has the necessary partners and relationships to staff their jobs.
Nearly five million people have quit their jobs over the past 18 months. This phenomenon, dubbed “The Great Resignation,” has left millions of jobs vacant across the nation. Click to read more at www.dmagazine.com.