Industry Wants Fed Help to Tackle Labor Shortages

The massive infrastructure plan, approved by the Senate, is forecast to create nearly a million jobs in construction, engineering and accounting by the year 2030. Michael Pugliese, economist of Wells Fargo Securities, told the Associated Press the infrastructure deal would likely have a modest impact on job creation and unemployment. He believes it could help the U.S. jobless rate fall below 4 percent by 2023. One of the undeniable elephants in the room is the continued demand for skilled construction workers. It’s been the bane of the construction industry’s existence for years now. The money and opportunities in the infrastructure plan are encouraging, but bringing it all to fruition may be impossible without workers, let alone well trained and qualified workers. Many construction firms reported they are making a concerted effort to address labor shortages.

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