JOLTS Analysis – Construction Workers Scarce and Aging, Reports 2021 Marcum Jobs Analysis
In the years preceding the pandemic, the construction industry faced a skilled labor shortage brought on by demographic and cultural factors, with especially severe shortages in certain geographies associated with rapid economic growth. The pandemic resulted in a 14.5 percent decline in construction employment from February to April of 2020. Rather than helping the situation, that further exacerbated industry challenges by persuading some workers to enter retirement earlier than anticipated and inducing others to seek employment in other industries, including those that offer the ability to work remotely and/or on flexible schedules.
With construction deemed an essential industry in much of the U.S. and the recession ending after just three months, demand for workers surged, but in many instances, there were not enough left to hire.