Labor shortages will continue to hinder construction of infrastructure and housing, but in the coming year, we will finally see a shift towards recognizing the skilled trades as a true career path.
Construction is the single largest industry in the world, with tremendous growth predicted over the next 10 years. The industry is responsible for the continued development of the face of the earth to meet the populations demands, and these demands will continue to increase. 2023 will see continued struggles to meet demand due to labor shortages, which will include shortages of both skilled trades people and skilled construction management personnel. However, changing attitudes towards four-year degrees and the cost of obtaining them will finally shift the narrative away from teachers and counselors pitching universities as the best path for all. We have seen the development of more and more CTE programs within high schools, and the creation of high school programs that focus attention on skilled trades and the construction industry as a true lifelong career path that doesn't require a four-year degree and earns wages equal to or greater than many of the traditional degreed careers. The rapid adoption of more innovative advancements, such as technology solutions and modular construction, spurred by the pandemic, will also play a role in attracting more young people to the industry.
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