More than half of U.S. contractors (55%) say finding enough skilled workers is one of the biggest barriers to growing their business, according to a DEWALT Powering the Future Survey.
That number rises to 69% among businesses with $10 million or more of annual revenue and 64% among survey respondents with 20 years or more of experience. About half of respondents believe that training the next generation of trades professionals is one of the most critical needs for the success of the construction industry in 2023.
An overwhelming majority of contractors (93%) say the lack of skilled workers has had at least a minor impact on their existing work. Half of the contractors who have had their work impacted by the labor shortage (50%) cite the primary causes for the labor gap as a lack of awareness around career paths in construction, followed by outside influences (parents, media, etc.) that guide younger people away from pursuing a career in the industry (47%), as well as an underestimation of how much money can be made (41%).
Keeping up with inflation (57%), risk management (37%), and working long hours (37%) are also major concerns for contractors.
Related Stories
Codes and Standards | May 16, 2022
AIA releases Justice in the Built Environment guide
The American Institute of Architects (AIA) recently published a new supplementary edition of the Guides for Equitable Practice, titled “Justice in the Built Environment.”
K-12 Schools | May 16, 2022
A Quaker high school in Maryland is the first in the U.S. to get WELL Gold certification
Designed by Stantec, a Quaker high school is the first in the US to receive WELL Gold certification, which recognizes a commitment to occupants’ health and well-being.
Building Team | May 13, 2022
Glass penthouses rise above Toronto’s tree line
In midtown Toronto, the nine-story midrise building Leaside Common has released its Penthouse Collection: two-floor penthouses that take inspiration from Philip Johnson’s Glass House in Connecticut.
Market Data | May 12, 2022
Monthly construction input prices increase in April
Construction input prices increased 0.8% in April compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released today.
Codes and Standards | May 12, 2022
Solar industry creates non-profit to remove barriers to clean energy deployment
The Solar Energy Industries Association (SEIA) is launching a 501(c)3 non-profit organization to accelerate the transition to carbon-free electricity.
School Construction | May 11, 2022
New Digital Learning Commons at Rutgers supports doctoral programs in over 16 disciplines
The new Digital Learning Commons at the Rutgers University Archibald S. Alexander Library provides students in over 16 courses of study and four professional schools with spacious collaborative and study space.
Building Team | May 11, 2022
Miami to get its first supertall building
After completing its first supertall building, 111 W 57th Street in New York, developer PMG is now preparing for the groundbreaking of the first supertall in Miami: Waldorf Astoria Miami.
Sponsored | BD+C University Course | May 10, 2022
Designing smarter places of learning
This course explains the how structural steel building systems are suited to construction of education facilities.
Market Data | May 10, 2022
Hybrid work could result in 20% less demand for office space
Global office demand could drop by between 10% and 20% as companies continue to develop policies around hybrid work arrangements, a Barclays analyst recently stated on CNBC.
Multifamily Housing | May 10, 2022
Multifamily rents up 14.3% in 2022
The average U.S. asking rent for multifamily housing increased $15 in April to an all-time high of $1,659, according to Yardi Matrix.