The Commercial Construction Index says 91 percent of contractors surveyed reported having a difficult time finding skilled workers.
According to the Bureau of Labor Statistics, there were almost 225,000 construction jobs that need to be filled each month of the first quarter of 2018, and 91 percent of industry professionals say they are having a "difficult or moderately difficult" time finding skilled workers, per U.S. News & World Report. Those working in construction have seen 3.6 percent wage growth from May 2017 to the same month in 2018. President and founder of Goliath Construction Consulting in Tampa, Fla. Tyson Conrad notes, "For so long, it was seen that if you worked with a hard hat, you didn't make a lot of money and you were a dummy. I can tell you that is contrary to everything that is reality."
The United States has a building problem. The country that paved one of the most expansive highway and transportation systems on the planet, that festooned a riverside between Maryland and Virginia with ornate marble and sandstone statues, columns and monuments in the creation of the nation's capital, that introduced architectural marvels to the world ranging from the Golden Gate Bridge to the Empire State Building to the Space Needle, is now dogged by an ailing construction industry.
Related Stories
Market Data + Trends
Sales of Existing Homes Surge in October
Existing home sales surpassed expectations last month, advancing 4.3% compared with September. This brings the year-over-year growth to 26.6% on a…
Market Data + Trends
Mortgage Demand Increases for First Time This Month
After a brief pause for the presidential election, mortgage applications are now back to booming. For the week, mortgage applications to purchase…
Housing Markets
The Largest Metros Offering Big Homes for Less
As more buyers look to the suburbs for more space and less cost, Realtor.com identified the top 10 largest metros with more affordable square…
