Concerns over labour shortage jump 28%

The right training is essential in ensuring workers stay engaged in their work and don’t leave for another industry

The number of companies mentioning labour shortage in their filings globally increased by 28% in 2022 compared to 2021, according to research from GlobalData.

GlobalData analysed keywords around shortages in quarter three earnings calls from leading players in numerous industries, including construction. Semiconductor and supply were the other top keywords discussed around the topic of shortages.

“As the construction industry is heavily reliant on labour, it seems to be profoundly impacted by the ongoing labour shortage issue,” said Ekta Chourasia, analyst at GlobalData.

“The shortage has resulted in increased dependence on more expensive temporary labour resources, significant increases in costs as well as delays in construction.”

During the earnings call a number of construction companies mentioned using technology to help address these shortages, such as unmanned robots, increased machine automation and digitisation.

Read about how construction can solve its skills shortage crisis here.