Cian BrennanCian BrennanFounder, Quantum Contract Solutions · Founder

The Labor Shortage Problem in Construction

16 Sept 2024 · 0 min
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0:17

In this brief commentary, the speaker explains that since the COVID‑19 pandemic, the construction industry worldwide has faced a severe labor shortage. The inability to recruit enough workers has forced companies to raise wages for frontline laborers significantly. These higher labor costs are eroding profit margins and reducing overall profitability for construction firms across all countries.

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