Date: June 5, 2024

Summary: The construction industry is grappling with significant labor shortages, impacting the progress and cost of projects. The shortage is attributed to an aging workforce, a lack of young talent entering the industry, and the after-effects of the COVID-19 pandemic.

Details:

• Aging Workforce: Many skilled workers are retiring, and there is a shortage of replacements.
• Training Programs: Companies are investing in training programs and apprenticeships to attract and retain new talent.
• Automation and Robotics: To combat labor shortages, firms are turning to automation and robotics to perform repetitive and dangerous tasks, improving productivity and safety.