Good luck finding construction workers

Labor shortage worsened in June

TRD New York /
Aug.August 09, 2017 09:35 AM

As if getting construction loans isn’t hard enough, developers increasingly have to fight to find construction workers.

The number of construction job openings in the U.S. rose to a seasonally adjusted 225,000 in June, up from 163,000 in May, according to the federal labor department — the highest number since September 2016.

Meanwhile the number of construction job openings as a share of total employment rose to 3.2 percent in June, up from 2.3 percent in May, the Wall Street Journal reported.

Although the labor shortage partly reflects a rise in remodeling across the country, it also highlights that many of the former construction workers who left the workforce in the wake of the 2008 crisis have not (yet) returned.

As The Real Deal previously reported, the Trump administration’s efforts to curb immigration could also hurt the construction industry.  [WSJ]Konrad Putzier 


Related Articles

arrow_forward_ios
Billy Macklowe and Key Food at 120 Fifth Avenue in Brooklyn (Credit: Getty Images and Google Maps)

Billy Macklowe looking to break into Brooklyn

From left: The Blau and Berg Company's Karine Blanc, TD and Partners' Nana Duncan and Lemor Development Group's Kenneth Morrison (Credit: Blauberg, TD+Partners and Lemor)

Black developers say partnerships aren’t always equal

85 4th Avenue in Brooklyn (Credit: Google Maps)

New details of Boerum Hill’s next big project unveiled

TF Cornerstone president Frederick Elghanayan and 595 Dean Street (Credit: CityRealty, Google Maps)

TF Cornerstone’s Prospect Heights two-tower project unveiled

Assemblyman David Chiu and Gov. Gavin Newsom (Credit: Wikipedia and iStock)

California passes landmark rent control law

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation

Chicago’s top 5 general contractor firms were approved to build over 9 million square feet of new development

The construction giants catching a Windy City windfall

David Marx of MDG Real Estate and the site at 71-05 Parsons Boulevard in Queens (Credit: Google Images and iStock)

Here’s a weird one: David Marx plans towers at Queens site he bought from his own company

arrow_forward_ios
Loading...