October not only signifies the arrival of fall, but the National Association of Home Builders (NAHB) has set aside this month as Construction Careers Month to encourage individuals to explore the many employment opportunities within the construction industry.
It’s no secret that the demand for skilled construction workers is skyrocketing. Its estimated that there are currently more than 400,000 job openings in the U.S. construction industry alone and 94% of construction companies currently struggle to find skilled workers. The demand for qualified professionals is outpacing supply creating a job seeker’s market. The industry is also a sector in transition with approximately 40% of the construction workforce expected to retire by 2031.
This impending shift in demographics is an opportunity for those who are looking not only for steady employment, but for a rewarding, meaningful, and prosperous career.
According to the 2021 American Community Survey, while salaries in the construction field are on the rise, the sector is facing challenges attracting workers ages 25 and younger compared to other industries, where the age group makes up more than 13% of the workforce. In contrast, the construction industry sees only about 10% of its workforce in this age category.
Young workers who do enter the construction industry can earn salaries that exceed the median U.S. wage of approximately $46,000. According to the May 2022 Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) and an analysis by NAHB, the median wages for those in the construction industry rises to about $54,540. Construction trades that require additional training also tend to offer higher annual wages.
The construction industry offers a diverse range of professions too, from architects and engineers to electricians and carpenters. There are jobs that allow for creativity in design and hands-on craftsmanship. What’s more, the industry isn’t just about constructing buildings, it’s about creating a legacy for generations to come.
Opportunities in the construction sector are ample, demand is high, and potential is boundless for those who want to build a future.