Spending on nonresidential construction projects declined for the second month in a row in April as contractors coped with an all-time high for job openings, according to an analysis the Associated General Contractors of America released today of federal spending data. Association officials said workforce shortages are suppressing the amount of construction activity that can take place and called for measures to encourage more people to pursue high-paying construction careers.
“Nonresidential construction spending is being held back by a paucity of qualified workers, not a lack of projects,” said Ken Simonson, the association’s chief economist. “With job openings at an all-time high and the industry’s unemployment rate at the lowest ever for April, finding workers is contractors’ top concern.”
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