GITNUX MARKETDATA REPORT 2024

The Most Surprising Construction Labor Shortage Statistics in 2024

Statistic 1

"41% of construction firms report difficulty filling craft positions."

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Statistic 2

"Only 16% of construction workers are under the age of 35."

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Statistic 3

"The U.S. construction industry will need to add 747,000 workers to keep pace with demand in 2022."

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Statistic 4

"61% of contractors have increased base pay rates to attract new employees."

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Statistic 5

"Over 50% of construction workers have no formal training."

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Statistic 6

"Construction labor shortages increase project delays and costs by 10-15%."

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Statistic 7

"The construction industry is projected to grow 4.1% annually from 2021 to 2026, intensifying labor shortages."

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Statistic 8

"Construction worker turnover rates stand at nearly 20%."

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Statistic 9

"67% of construction companies struggle to find enough qualified skilled workers."

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Statistic 10

"There are expected to be 1 million unfilled construction jobs by 2023."

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Statistic 11

"The average age of a construction worker in the U.S. is 42.5 years old."

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Statistic 12

"Women only make up 10.9% of the construction workforce."

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Statistic 13

"A survey indicated 70% of firms experienced project delays due to worker shortages in 2021."

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Statistic 14

"80% of construction firms are having a hard time finding hourly craft workers."

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Statistic 15

"63% of construction firms are adding employee benefits to attract new hires."

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Statistic 16

"Annual wage growth for construction workers hit 3.7% in 2021."

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Statistic 17

"54% of contractors have put in place a higher level of overtime or double-time to compensate for workforce shortages."

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Statistic 18

"Construction sector saw a decline of 2.1% in workforce from 2019 to 2020."

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Statistic 19

"Construction job openings increased to 363,000 in July 2021."

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Statistic 20

"Nearly 1 in 5 construction firms have had to turn down work due to labor shortages."

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