Growing Labor Shortages Impeding Housing and Economic Recovery
Growing labor shortages in all facets of the residential construction sector are impeding the housing and economic recovery. Since June of 2012, residential construction firms are reporting an increasing number of shortages in all aspects of the industry. The labor shortages have caused builders to pay higher wages or subcontractor bids to secure projects, and consequently, to raise home prices. Part of the labor shortages are attributed to the fact that many skilled residential construction workers were forced to seek employment elsewhere during the recession and are no longer currently available. Continue reading story