Just in via press release:
The construction industry will need to attract an estimated 439,000 net new workers in 2025 to meet anticipated demand for construction services, according to a proprietary model developed and released today by Associated Builders and Contractors.
In 2026, the industry will need to bring in 499,000 new workers as spending picks up in response to presumed lower interest rates.
“While the construction workforce has become younger and more plentiful in recent years, the industry still must attract 439,000 new workers in 2025 to balance demand and supply,” said ABC Chief Economist Anirban Basu.
“If it fails to do so, industrywide labor cost escalation will accelerate, exacerbating already high construction costs and reducing the volume of work that is financially feasible. Average hourly earnings throughout the industry are up 4.4% over the past 12 months, significantly outpacing earnings growth across all industries.”
Read the full press release. You’ll note that the press release carefully omits mention of Trump and deportations. A separate Texas construction industry trade group issued a similar panicked message last month.
“While the construction workforce has become younger and more plentiful in recent years, the industry still must attract 439,000 new workers in 2025 to balance supply and demand.”
Learn more and discover ABC’s proprietary model: https://t.co/gI6LZghfBM
#ABCMeritShopProud pic.twitter.com/oxFVNKS5nI— ABC National (@ABCNational) January 24, 2025