With activity in the multifamily housing market picking up steam across the nation, concern about how the construction sector will meet increasing demand for qualified labor is mounting.
After several years of increasing demand, construction firms are expanding their payrolls in almost every market segment. They are optimistic about growth in the retail, warehouse and lodging segments, as well as demand for manufacturing, energy and hospital construction. They also are ready to purchase and lease new equipment. Although the outlook is optimistic, construction firms face a number of significant challenges. Foremost among those challenges is the growing shortage of qualified workers to fill available positions.