The Construction Industry in the US has been growing steadily for the past eight years. Major construction employers are looking to employ more skilled people. Even the wages have shown a 2.8 percent increase compared to last year, making it $28.30 per hour currently.
The Associated General Contractors of America or AGC have observed that employment in the construction field has gone up to 6.669 million in the last month. This has the highest it has ever reached since December 2008. According to the AGC report the shortage of skilled workers along with the increase in construction projects has made wages and salaries increase on a steady slope. The shortage of skilled workers in the construction industry has been a constant strain on major construction giants.
The Construction Industry Institute or CII has tried to overcome this by encouraging young people to choose this as a career option as well as changing the misunderstanding of tough working conditions. Even today the construction field is not considered attractive job market for women. This scenario can be changed by providing better benefits like paid maternity leave and child care options.
The workforce found in the construction industry is made up of two types:
· Workers who are satisfied with the work they are doing and are eager participants in trying to improve their skills in the field.
· The second group of workers sees their job as mainly a transit or in between job choice. As soon as better opportunities in other fields crop up they will jump the ship.
Managers have to use different management strategies according to the worker groups higher at the field. The number of people with previous experience in the construction who are currently unemployed has been reported to be 474,000 by the AGC. This is the lowest it has been since the past 16 years, which is quite a noticeable feat.
Find more information about real estate here:
This review was commissioned by the government and was undertaken by the consultancy run by Mark Farmer. In this study, it was found out that serious government intervention is necessary to boost the economic slowdown of the construction industry. The slowdown can be prevented by tax incentives and building housing units for rental purposes. Farmer claims that building for the sole purpose of renting plays a vital role in the ever changing construction industry. Though the construction industry is facing a tumultuous change, it has been observed over the years that rental demand is more or less the same.
The report calls the government to increase the number of affordable homes and social housing units. It claims that these kinds of houses can be built within a short span of time with the help of pre-manufactured modules rather than depending on traditional building methods that are costlier and time-consuming.