According to Gilbane Building’s 2015-2016 Market Conditions in Construction report, the construction industry added one million jobs in the last five years and 800,000 of those jobs were added in the past three years. From an outsider perspective this seems to be a very encouraging sign indicating huge growth patterns for the industry. But upon deeper investigation there is a huge issue relating to the amount of skilled workers available and the continued demand for builders to hire more workers for additional projects in the coming years.
Recently, the National Association of Home Builders/Wells Fargo Housing Market Index surveyed builders about the problems they expected to face in 2016 and beyond, and 76% of builders said cost and availability of labor topped the list. With over three quarters of builders already facing labor issues now and the expected industry needs for job gains of 500,000-600,000 in 2016-2017, what will you do?
The construction industry delivered impressive employment gains at the end of 2015, with the addition of 120,000 jobs during October thru December last year. During this surge of employment, industry experts said they believed a softening of the energy sector and higher wages were luring more workers into construction. However, the industry only added 18,000 jobs in January, and the construction unemployment rate rose to 8.5%, indicating construction companies need to up their games and find new ways to help maximize their current workforce or be forced to turn away business.
Current predictions for the industry forecast 2016 spending to increase 9.7% to well over $1.2 trillion. If this prediction is correct, total construction spending growth from 2014 to 2016 would reach 30% setting a new record-high growth period. It is imperative that builders consider all of the tools at their disposal and seek the benefits of outsourcing or improving certain aspects of your projects.
This is where the experience and knowledge of dwellingLIVE helps ease your pain. We have worked with the building industry for over 17 years and have developed a comprehensive suite of products that effectively incorporate into your projects and relieve the burden of labor issues and cost.
dwellingLIVE offers state of the art products like: Online Customer Portal, Maintenance Manuals, Project Archives, Service Request Management, Security, Online HOA Maintenance Manuals and more. These products have been proven over and over again to free up valuable time for the project team while enabling them to deliver a 100% accurate and complete project specific deliverable so they can easily do what they do best. Build and sell homes!
Think we might be a fit for your next project? Lets talk!