According to the NBC Nightly News, a recent report by the global search firm ManpowerGroup shows that skilled labor jobs are the hardest to fill both in the US and around the globe. Projections, as we have discussed, show that the supply will shrink for the foreseeable future as the demand increases in the current construction recovery.
While that is good news for the existing workers looking for jobs around the US and the globe, owners, contractors and subcontractors will be scrambling to keep their top folks and frantically searching for additional workers. That will likely put pressure on labor rates and construction costs as well.
According to the NBC report:
“Four in 10 American employers are struggling to fill open positions, according to the annual Talent Shortage Survey by human resources firm Manpower.
For the fifth consecutive year, the jobs that are hardest to fill fall into the category of skilled trades, which covers manufacturing, construction and other positions that require professional training or apprenticeship. This category includes plumbers, electricians, carpenters and bricklayers. Laborers, on the other hand, are defined by Manpower as workers who possess few specialized skills.”
This is an interesting state of affairs and will likely drive the unemployment rate in construction even lower over the next few quarters.
You can get more information, including the global and national Top 10 Hardest Jobs to Fill lists, on Manpower’s website.
Image courtesy Nightly News.
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