While a slowing US economy and housing market could take some pressure off tight labor markets, the long-term labor challenge will persist beyond this slowdown. The National Association of Home Builders reported May 31 that unfilled vacancies in construction jobs rose in April, compared to March.
In years to come, builders predict that attracting skilled labor will remain a key objective. Despite 2023 weakening, NAHB reports the US housing market remains underbuilt and will require additional labor and materials to construct future inventory demand.
While a recession may slow home building near-term, the ultimate solution for a US labor shortage will not be found in a slowing economy. Resolving the shortage of labor—in construction, forestry, and transportation—must be answered by employers competing for limited workers.
Stiff competition between trade sectors for skilled workers will be led by values appealing to young generations, such as improved: career promotion, workplace benefits, training, rewarding work, wages, and recruiting incentives.
Recaptured labor participation in forest trades and construction can happen by bringing to rural occupations more outside workers who are dissatisfied with their current work, more who are unemployed, those who are under-employed, and those youth/students uncertain about their future.
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