More than half of U.S. contractors say finding skilled workers is big barrier to their growth

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.

KONE Corporation has announced a new elevator technology that could make it possible for supertall buildings to reach new heights by eliminating several problems of existing elevator technology. The firm's new UltraRope hoisting system uses a rope with a carbon-fiber core and high-friction coating, rather than conventional steel rope.

| Jun 4, 2013

SOM research project examines viability of timber-framed skyscraper

In a report released today, Skidmore, Owings & Merrill discussed the results of the Timber Tower Research Project: an examination of whether a viable 400-ft, 42-story building could be created with timber framing. The structural type could reduce the carbon footprint of tall buildings by up to 75%.