The Home Builders Institute (HBI) recently released its “Construction Labor Market Report,” and one key finding of the report is the fact that there are currently 8.3 million payroll construction workers, 3.4 million of whom are in the residential construction industry. The report further notes that the makeup of the construction workforce shows dramatic shifts with the share of tradespersons having declined from 71% in 2005 to under 61% in 2022, as the industry lost more than a million.
Read DWM
