WASHINGTON, Jan. 31—The construction industry will need to attract an estimated 501,000 additional workers on top of the normal pace of hiring in 2024 to meet the demand for labor, according to a proprietary model developed by Associated Builders and Contractors. In 2025, the industry will need to bring in nearly 454,000 new workers on…
Foreign-born workers are helping make up for the ongoing construction industry labor shortage Immigrants are helping make up for the labor shortage that has plagued the construction industry since the onset of the pandemic, according to a new analysis from the National Association of Home Builders (NAHB). Foreign-born US workers composed a record 25% of…
Wrapping up a year in the wake of the recently concluded COP28 UN climate summit that resulted in, well, mild levels of agreement on the role of fossil fuels, it is possible to sense a slightly increased urgency toward this most pressing planetary issue on a high-minded diplomatic level. As we’re quickly approaching the quarter…
Rising wages and plentiful jobs have kept employees’ spirits high, but watch for signs of discontent, a new report says. Dive Brief: The construction industry tops a list of sectors with the happiest workforces, according to a new report from Bamboo HR. The human resources tech company measured the Employee Net Promoter Score at over…
Both residential and nonresidential construction employment were up in June. The Bureau of Labor Statistics (BLS) reported that nonfarm payrolls climbed by a seasonally adjusted 209,000 in June, falling below economists’ expectations. The unemployment rate fell to 3.6%, while the average hourly earnings rose 4.4% on a year-over-year (y/y) basis, up from 4.3% y/y in…
The job market has cooled over the summer WASHINGTON — The job market has cooled over the summer. But it’s still strong enough to defy predictions that higher interest rates would tip the United States into recession. U.S. employers added 187,000 jobs last month, fewer than expected. But the unemployment rate dipped to 3.5% in a…
More companies resorted to layoffs last month as soft demand pushed manufacturers to cut costs. The U.S. manufacturing industry sank to new lows last month, as companies continued to struggle with soft demand. ISM’s Purchasing Managers’ Index registered a 12-month low of 46% in June, as anxieties grow that the U.S. is headed for a recession…
The increase comes as builders report being more optimistic about the market. Builders showed renewed optimism in February, pulling more permits and beginning construction on more housing units, the Census Bureau and the Department of Housing and Urban Development said on Thursday. The number of permits rose 13.8% to an annual rate of 1.5 million,…
Drop in working hours leads to contraction in labor supply Shortfall keeps pressure up on wages, spurring inflation worry By Rich Miller April 5, 2023 at 3:00 AM PDTUpdated onApril 5, 2023 at 8:08 AM PDT Americans are spending less time working than they did before the pandemic. That’s good for many of them, but…
Hybrid work is changing the calculus of what it takes to live and work in separate places A new breed of commuter is going to great lengths—and doing a lot of number crunching—to pull off living and working in far-apart places. A super commuter used to mean someone who trekked at least 90 minutes to…