Market Gyrations Make Hitting Targets for Skilled Crafts an Art
The industrys ability to field a skilled craft force traditionally has been challenged by constructions seasonality, cyclicality and hard work. But trying to hit the bulls eye in demand has been made doubly difficult by the swinging and twisting target, put in motion partially by a huge surge in powerplant construction over the past two years and an overall U.S. construction market that has been expanding for a record 10 years. Only recently are there signs that the industry may be in for a breather and a chance to mitigate labor shortages that vary by region and project.
Activity is plateauing at a very high level. Construction slowed in the U.S. for the fifth consecutive month to a seasonally adjusted annual rate of $843.1 billion in September, according to the latest figures available from the U.S. Dept. of Commerce, which measures construction put-in-place. Although construction activity is easing up, it still was expanding in September, at a 3.4% annual rate compared to 6.5% in April.