In 2021, construction companies will need to hire 430,000 more workers than they employed in 2020, according to ABC’s newest analysis of U.S. Bureau of Labor Statistics data. Our study also shows that, prospectively, for every $1 billion in extra construction spending, an average of at least 5,700 construction jobs would be created.
I see this as evidence that the construction industry is powering America’s recovery and economic engine, especially as the current administration discusses significant, long-term investments in infrastructure.
Several variables may affect the U.S. construction spend and employment demand over the next few years: inflationary pressure, rising commodity costs and other global supply chain concerns—plus legislative decision-making—however, the most pressing need now is the effort to recruit, educate and upskill the nation’s future construction workforce, putting our money where our mouth is by investing $1.5 billion annually in workforce development initiatives to equip our craft professionals with durable and transferable skill sets.
One company that prioritizes its people, first and foremost, is ABC’s Contractor of the Year, Big-D Metalworks of Dallas, which is profiled in this issue’s cover story “Many Hands Make Metal Work.” Please read about this employee-owned company’s incredible contributions to our industry.
Also, be sure to check out a series of expert articles on risk management essentials—surety, insurance, safety and compliance.
This issue features all of ABC’s Excellence in Construction Award winners and National Safety Excellence Award winners. These companies were honored at ABC’s Annual Convention in March, and we give them a whole-hearted round of applause for their achievements.
Stay tuned for coverage of ABC’s Diversity Excellence Award winners in the May issue, and Craft Professional, Craft Instructor and Young Professional the Year in our June issue, plus ongoing coverage of Congress’ infrastructure package and its potential impacts for contractors nationwide.
