The construction industry will need to attract an estimated 439,000 new workers in 2025 to meet anticipated demand for construction services, according to the Associated Builders and Contractors.
Additionally, in 2026, the industry will need to bring in 499,000 new workers as spending picks up in response to presumed lower interest rates.
“While the construction workforce has become younger and more plentiful in recent years, the industry still must attract 439,000 new workers in 2025 to balance demand and supply,” ABC Chief Economist Anirban Basu said in a statement. “If it fails to do so, industrywide labor cost escalation will accelerate, exacerbating already high construction costs and reducing the volume of work that is financially feasible.”
Read the full report here.
