Issue link: https://mastery.commandalkon.com/i/1440159
25 | Embark In addition to serving as the largest investment in roads, bridges, and passenger rail in more than a half-century, the Infrastructure Bill that President Biden recently signed into law represents the largest federal investment in public transit, clean drinking water, and wastewater infrastructure in American history. S&P Global Ratings estimates that the bill would lift productivity and economic growth, adding $1.4 trillion to the U.S. economy over eight years. The issue that the heavy building materials and construction industries face right now is recruiting enough additional workers to complete the resulting work. The Labor Shortage Intensifies Nationwide, 92% of contractors report 'moderate to high levels of difficulty' finding skilled workers, according to the U.S. Chamber of Commerce's quarterly construction report. More than a third of the participants in the research study also report having to turn down work due to labor deficiencies. While it's estimated that the Infrastructure Bill will create 2 million jobs over the course of a decade, it's also estimated that the industry could face a shortage of at least two million workers through 2025, per data firm, Construction Industry Resources. According to the National Center for Construction Education and Research, approximately 41% of the current construction workforce – including those in management roles – will retire by the year 2031. With the baby boomer generation retiring, the construction workforce needs new blood; but construction isn't the only industry desperate to hire. According to the Labor Department, the number of total available jobs is the highest that it has been in 20 years. Competition to hire new talent is spread across industries, and the harsh reality is that some of the outdated processes and workflows that the construction industry still practice today are not appealing to Millennials or Gen Z. Generational Gaps These generations value flexibility. 22% of Millennials and Key challenges and trends for the jobsite. Jobsite Perspective. Jobsite Perspective