What the Skilled Labor Shortage Means for Homeowners
Originally published by This Old House Reviews, written by Stephanie Minasian-Koncewicz
The U.S. construction industry is facing a critical shortage of skilled labor, with far-reaching consequences for homeowners. Following the Great Recession, the industry lost more than 2.2 million workers—nearly 29% of its workforce—and has yet to recover. As a result, homeowners are experiencing higher renovation costs, fewer available contractors and longer project timelines.
To meet demand, the industry needs to hire about 723,000 workers annually, according to the Home Builders Institute. However, as of mid-2024, it is averaging fewer than 6,000 new hires per month. Experts cite shifting cultural values, immigration policies, an aging workforce, and misconceptions about trade careers as key contributors to the shortage.
Dr. Minerva Bonilla, an assistant professor at Texas A&M University, and other industry experts say the labor gap is affecting every stage of home improvement. Homeowners may face delays for both planned upgrades and emergency repairs, while rising labor and material costs strain budgets.
In response, more homeowners are turning to do-it-yourself solutions, aided by online tutorials and social media. While DIY projects can offer savings, experts recommend evaluating skill levels and safety concerns before getting started.
Without significant investment in workforce development and vocational education, experts warn the shortage will persist, further inflating housing costs and limiting construction capacity nationwide.
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This Old House – Skilled Labor Shortage
