Good news for anyone involved in construction: The industry added 23,000 specialty trade contractor jobs in November 2017, according to the U.S. Bureau of Labor Statistics. The bad news? Construction employers will likely struggle to fill new positions, as a labor shortage triggered by the 2007–2009 Great Recession continues to dampen more robust growth for the builder economy.

In fact, the number of builders reporting a critical shortage of labor has grown from 21% in 2012 to 46% in 2014, 52% in 2015 and 56% in 2016, says Paul Emrath, who tracks industry economic statistics as the vice president for survey and housing policy research for the National Association of Home Builders.
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