The United States is facing a serious construction labor shortage. There are currently about half a million unfilled construction jobs, and that number is rising fast.
The Bipartisan Infrastructure Law (BIL) is also expected to create hundreds of thousands of additional jobs across the construction value chain in the next decade, escalating labor demand.
According to McKinsey, the potential labor challenge created by the BIL’s historic investment transcends any individual sector, occupation, and geography.
Delivering on this generational opportunity to drive national and global economic growth would benefit from the combined and coordinated efforts of the private, public, and social sectors working across the entire construction value chain.
Here are key steps to address the potential labor shortage:
– Increase the supply of construction labor
– Improve productivity across the entire value chain
– Revisit how owners work with contractors and suppliers
– Coordinate more effectively