If you are looking for a career with job security and a growing number of benefits, the construction industry could be a good place for you to look. Across all levels and pay scales – from the entry-level menial labor positions to the higher-skilled management positions – wages in construction are continuing to climb, and do not show any indication of slowing down in the foreseeable future.
There are a few reasons behind this, including an aging workforce, a growing demand for building projects, and even the evolving role of technology. We will take a look at these contributing forces, and discuss what each means for job security and reimbursement.
Retiring labor force
One of the biggest reasons that the average wages for construction workers are continuing to climb is because skilled workers are becoming harder and harder to find, which means that companies and contractors are willing to pay more for qualified talent. The declining work force is in large part due to an aging population. More and more Baby Boomers are retiring from careers in construction every day, and this trend greatly outpaces the number of individuals who are actively pursuing careers in the industry.
Growing number of projects
In addition to a declining labor force, what makes construction jobs even harder to staff is the fact that the number of home and commercial projects continue to climb across the country. This means that qualified and skilled workers are typically booked on one project after another, giving them excellent job security. Many employers try to sway and secure dependable employees with increased pay rates and job benefits. Not being able to dependably staff projects or regularly having to search for and vet employees can take up a considerable amount of time and money and result in project delays.
The construction industry is continuing to evolve. More automation and artificial intelligence are being used to help replace some of the menial labor, increasing efficiency and lowering costs. You might think that this would result in less of a demand for qualified workers or diminishing wages, but the opposite is actually true. In fact, this means that there is a growing demand for workers who have the knowledge and experience in working with this technology. This is a specialized skillset, which means that the respective reimbursement also tends to be higher.
What a career in construction looks like in the future
There is a lot of opportunity in the construction industry. As we have discussed, there is a growing demand for skilled workers – which means rising wages and job security. Experts predict that this trend will continue for the foreseeable future, making the construction industry an excellent career path to consider.