Shortage of Skilled Workers Has Pushed Up Construction Costs

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The immediate effect of the skilled worker shortage impacting the U.S. construction industry for the last two years was a slowdown in work. Demand rose and backlogs increased as firms struggled to find enough workers to tackle new jobs.

But now, a new wrinkle is being pointed to by a development executive. Lydia Tan, senior vice president of development at real estate investment advisory firm Bentall Kennedy tells GlobeSt.com the labor shortage has led to “drastically rising construction costs.”

See more here.

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