The debate about when construction will rebound is over. Sure, fluctuations still happen month to month. But compared to a few years ago, building is back, in all forms. According to the National Association of Home Builders (NAHB) August 17 report, “Components measuring current and future home sales also rose to or remained at new heights not seen since late 2005.”
The same can be said about commercial construction. “Nonresidential construction spending has been recovering robustly in the U.S. in recent months - up more than 11 percent on a year-over-year basis,” said Associated Builders and Contractors Chief Economist Anirban Basu.
Construction’s recent reboot is not without a few hiccups. A few factors stand in the way of sustained growth. And at the top of that list a labor shortage. Despite plenty of opportunities for builders and workers alike, the construction industry is increasingly shorthanded, with no relief in sight. Our friends at Sage Construction Software captured the issue in an infographic that sheds some light on the current and future states of the construction workforce. See the complete infographic from Sage Construction Software here. Then tell us what you see in store for construction in the comments below.