New HBI Report Shows an Increase in Demand for Construction Labor

Workforce Development
Published

Additional skilled construction workers will be needed to reduce the nation's housing deficit during the second part of this decade, a shortfall NAHB estimates to total 1.5 million homes. The latest Construction Labor Market Report from the Home Builders Institute (HBI) provides an overview of the current state of the nation’s construction labor market.

Key findings in the report include:

  • There are currently 8.2 million payroll construction workers.
  • The estimated, required amount of construction worker hiring is approximately 723,000 per year, according to NAHB analysis of BLS data and projections.
  • The number of open construction sector jobs was above 400,000 at the start of the year. The count fell in March.
  • Average hourly wages in the overall construction industry have increased 5% over the last year, with average wage levels exceeding national private sector averages.
  • Women make up a growing share of the construction employment, reaching 10.9% in 2022. This is a noticeable increase from 9.1% in 2017 and just below the record high share of 11% recorded in 2021.

NAHB Chief Economist Dr. Robert Dietz and HBI CEO Ed Brady discuss the report’s key findings, trends and possible solutions for the labor shortage in an HBI Podcast. To learn more about the residential construction labor market, view the report.

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