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
| Jun 19, 2014
First look: JDS Architects' roller-coaster-like design for Istanbul waterfront development
The development's wavy and groovy design promises unobstructed views of the Marmara Sea for every unit.
| Jun 19, 2014
Singapore's 'Tree House' vertical gardens break Guinness World Record
The high-rise development will have a 24,638-sf vertical garden, breaking a Guinness World Record.
| Jun 12, 2014
Austrian university develops 'inflatable' concrete dome method
Constructing a concrete dome is a costly process, but this may change soon. A team from the Vienna University of Technology has developed a method that allows concrete domes to form with the use of air and steel cables instead of expensive, timber supporting structures.
| Jun 11, 2014
David Adjaye’s housing project in Sugar Hill nears completion
A new development in New York's historic Sugar Hill district nears completion, designed to be an icon for the neighborhood's rich history.
| Feb 17, 2014
Call for Entries: 17th annual Building Team Awards - Deadline Extended!
BD+C's Building Team Awards is the industry's only recognition program to honor projects that achieve excellence in both design/construction and collaboration of the AEC/O team. The deadline has been extended to March 14, 2014.
| Jan 30, 2014
Mayors of 10 metros unite to cut building-related climate pollution
Organizers say combined initiative could cut as much climate-change pollution as generated by 1 million cars every year, and lower energy bills by nearly $1 billion annually.
| Jan 29, 2014
Richard Meier unveils 'urban courtyard' scheme for Mexico City towers
A grand atrium, reaching some 30 stories, highlights the contemporary, bright-white design scheme unveiled this week by Richard Meier & Partners for a new mixed-use development in Mexico City.
| Jan 24, 2014
First look: Foster + Partners' new home for Yale School of Management [slideshow]
Edward P. Evans Hall, the new home of the Yale School of Management, has opened for business. The 242,000-sf facility was designed by Foster + Partners, with Gruzen Samton as architect of record.
| Jan 24, 2014
Reed Expansion Index predicts widespread economic improvement for the year
Reed's December Expansion Index stood at 1.48, indicating overall construction in the United States is expected to grow over the next 12 months.
