A healthy construction industry has always been an indication of economic growth. When people have a stable income, they buy homes. When entrepreneurs open up their businesses, they renovate rental space or purchase their own real estate. When a city is doing well financially, they’ll build high-rises, stadiums, freeways… That’s the way it’s always been done.
However, times change, and with each new generation, there comes a new set of challenges; and the current environment is no exception. While technology has made our lives easier by giving us smart phones and Internet of Things to play music or give information upon command, there is one downside that has to be addressed: Fewer people are going into the construction business. Since 2015, there has been an increase of 81% of construction jobs that need to be filled.
Reasons for the shortage
As our very own Todd Whalen explained to U.S. News & World Report, the number of vocational schools has been reduced. Coupled with the fact that fewer high schools are offering similar elective options, this means that less and less young people will even get a chance to be exposed to construction as a viable career option; and those who do go into business won’t have the level of knowledge of current construction experts.
What this means for your construction or renovation project
The less people there are to compete for your business, the higher costs will be. There have already been delays in construction and renovation projects because there are simply not enough people to keep up with the demand.
Short term solution for a long term problem
If trends continue the way they have been for the past couple of years, at some point, there will be a recession in construction. If you have a project that needs immediate attention or are thinking about renovating, Eclipse Building Corp. can do the work for you. Contact us before the line goes around the block. Time is money. Get things done now.