Economic Environment: Immigration, Labor Shortages & U.S. Construction Markets
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Economic Environment: Immigration, Labor Shortages & U.S. Construction Markets
- A building boom, steady influx of new building materials, and a shortage of skilled workers to properly install them are factors that have collided.
- Between 1955 and 2005, manufacturing, construction and mining jobs fell 25 percent.
- Nearly one in five construction workers were born outside the U.S. and it’s estimated that immigrants make up over 25 percent of the construction workforce in CA, NV, TX, DC, AZ, NY, FL and NJ.
- The U.S. Bureau of Labor Statistics estimates that the construction industry will need to add 241,000 new jobs annually through 2014 for new business and replacing retirees.
- To navigate in this climate, get involved. Builders are looking for "supply partners" that will help them provide training and other resources.
2006 November