The construction industry in America is standing in the shadow of a historically unprecedented hurdle. The workforce is aging, and candidates are not being drawn into the industry quickly enough to compensate for the inevitable mass exodus of the baby boomers. In 2004, Bobby Rayburn, then president of the National Association of Home Builders (NAHB), identified “a shortage of skilled workers” as being “one of the most serious challenges” facing the homebuilding industry (source: Sacramento Business Journal). The housing downturn that has occurred since Mr. Rayburn spoke those words has not changed the situation; a lack of skilled workers is still a real and quickly approaching obstacle to be overcome by the industry. And that is just the residential sector. Commercial construction has been booming while residential construction has been swooning, and some firms are already feeling the pinch of an undersupply of skilled workers in certain disciplines.

Statistics tell the story well. A recent Human Resources Blog entry offers some interesting numbers from Ira S. Wolfe’s Perfect Labor Storm 2.0. For example, “there are now more people over 90 or 100 years old than in all of American history put together.” Even more startling for this paper’s purpose is this: “the 50 and older population in the U.S. from 2000 – 2050 will grow at a rate 68 times faster than the rate of growth for the total population.” Or try this one on for size: “Almost 90% of the net increase in the traditional working age population is projected to occur in the age 55 – 64 group,” and “over the next 15 years, 80% of workforce growth in developed economies of North America…will occur among people 50 years and older.”

But what does this all mean for the construction industry and building jobs?  Find out by reading the rest of the article here!