CONEXPO-CON/AGG’s Post

One effective way to motivate construction workers is to pay them quickly, and using technology to increase productivity can help manage the current labor shortage. Assignar can help achieve both of these goals. #construction #productivity #Assignar #DFWContractors #TennContractors #Subcontractors

When you think of the world’s largest industry, perhaps agriculture or energy come to mind—but it turns out they’re not the biggest. No, the largest industry in the world today is construction, generating about 13 percent of the entire world’s GDP. And while it operates on a truly massive scale, construction also has a notoriously difficult time achieving maximum profitability because of the constant struggle to keep the industry fully staffed. For years, the construction industry has seen a shrinking pool of labour that includes everyone from people in trades to company leadership. In turn, this takes a toll on those working on construction projects, with 75 percent of construction workers expressing concerns about fatigue, Forbes magazine reports. For some stark context, in the United States, the application rate of young people looking for work in fields like plumbing and electrical dropped by a whopping 49 percent in 2022 compared to 2020, according to data from the online recruiting platform Handshake. This contrasts with the growing demand for these technical jobs being spurred on by infrastructure needs, especially green construction projects. Find out more in this article by Karen Hawthorne #constructionnews #construction #labourshortage #trades

Some brilliant insights here.

As we enter the second half of 2024, market sentiment is turning more optimistic. While material costs are beginning to ease, labour rates continue to pose a significant challenge. Here's to hoping that H2 2024 brings positive developments for the construction industry. #bcis #construction #materials

The construction industry is grappling with a notable shortage of skilled labor, with over 370,000 job openings reported in August alone. Despite a high number of unemployed individuals, many contractors are finding it challenging to locate qualified candidates, resulting in project delays and increased costs. This shortage is not merely about the number of workers; it also concerns the lack of necessary skills. Many of the hard-to-fill positions require specific qualifications, such as those for plumbers, carpenters, electricians, and pipefitters. The situation is further aggravated by an aging workforce and reduced funding for workforce development in construction and related sectors. To combat this shortage, the construction industry is implementing various strategies, including raising wages, advertising jobs on social media, and collaborating with high schools and postsecondary institutions. However, these initiatives will need time to yield results. What measures do you think the construction industry should adopt to attract and retain skilled labor? How can the industry and government collaborate to tackle this issue?

The U.S. construction industry has faced tough times with costs jumping nearly 40% since February 2020 and ongoing labor shortages. A report from the Associated General Contractors of America suggests many contractors expect profits to shrink soon. Despite these challenges, the U.S. construction sector is showing strong resilience. Project starts rose by 6% in the first eight months of 2024, and nonresidential construction planning jumped 31% in August compared to last year. The U.S. still leads construction despite rising material costs and economic uncertainty. However, construction spending has grown over 41% since April 2020. Read more here: https://lnkd.in/gZmNHdCg #Construction #Trends #USConstruction #Contractors

While studies suggest that the overall construction industry is increasingly digitized, small site contractors—a segment that makes up most of the market, remain largely unchanged. Many still rely on conventional means and methods to complete day-to-day jobs. Read on. #constructiontechnology #constructionindustry

U.S. 2024 Construction Outlook: Torrid or Tepid? The construction industry has faced unprecedented challenges in recent years, from rising material costs, supply issues, and ongoing labor shortages, to the threat of another recession. As we continue to battle these headwinds, what’s the view from the other side? Will new federal infrastructure programs, easing inflation, and more stable supply chains create smoother sailing for contractors in 2024? Fortunately, all signs point to a torrid year ahead for the majority of the construction sector. https://lnkd.in/eu5p8Jaj

𝗖𝗼𝗻𝘀𝘁𝗿𝘂𝗰𝘁𝗶𝗼𝗻 𝗢𝘂𝘁𝗽𝘂𝘁 𝗗𝗲𝗰𝗿𝗲𝗮𝘀𝗲𝘀 𝗕𝘂𝘁 𝗡𝗲𝘄 𝗢𝗿𝗱𝗲𝗿𝘀 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲 The latest, Q1, ONS #construction output data for Great Britain shows that monthly construction output is estimated to have decreased 0.4% in volume terms in March 2024; this came from decreases in both new work (0.7% fall) and repair and maintenance (0.1% fall). At the sector level, five out of the nine sectors saw a fall in March 2024, with the main contributors to the monthly decrease seen in infrastructure new work, and non-housing repair and maintenance, which decreased 3.6% and 2.4%, respectively. More information here: https://lnkd.in/emGg-vh7

Gulf Coast Construction Jobs Report Construction employment in the Gulf Coast is booming compared with pre-pandemic levels, according to the Associated Builders and Contractors Florida Gulf Coast. In the Cape Coral-Fort Myers area, the construction employment base is up 34.7% since the beginning of 2019, ABC Florida Gulf Coast reports. Other areas on the Gulf Coast that have added jobs at rates faster than the statewide pace include North Port-Sarasota-Bradenton, which saw a 23.8% increase in construction jobs since the start of 2019; Naples-Immokalee-Marco Island, where construction employment was up 21% over the same period; and Tampa-St. Petersburg-Clearwater, which has experienced an 18.1% increase in construction jobs since 2019, according to ABC Florida Gulf Coast. “The impressive growth in construction employment across Florida's Gulf Coast region, especially in areas like Cape Coral-Fort Myers, underscores the strength and potential of our industry,” ABC Florida Gulf Coast President/CEO Steve Cona III says in a statement. https://lnkd.in/eZ3NKvAF