Florida has seen a strong recovery in the housing market since the 2008 financial crisis, but the market seems to be facing a new challenge: finding skilled workers.
In 2008 the state’s housing industry lost almost half of its workforce. During the recovery many skilled laborers who had worked in housing turned to the rapidly growing U.S. oil market. Driving these opportunities was the President’s approval for the building of the Keystone Pipeline and fracking across the Midwestern United States, resulting in the country’s lower dependency on foreign oil, and largest reduction in carbon pollution by any country. Yet the cost of domestic oil dependency may indirectly add to a more dangerous national infrastructure, and an increase in construction law suits.
Skilled construction workers are hard to find according to many of the top construction companies in the country. Aside from workers moving away from the industry, this phenomenon is also fueled by the aging construction workforce. According to research by a local chapter of the Associated Builders and Contractors of Tampa, 21 percent of construction workers nationally were over the age of 55, and 29 percent were between the ages of 45 to 54 years, many of whom will be looking to retire within the next 5 to 7 years (Florida’s Surging Construction Industry Faces Worker Shortage: by Jeff Harrington; Tampa Bay Times). Companies are being forced to make substandard hiring because of a large near-future retiree population within the industry and a lack of quality recruitment.
Florida contractors are being forced to raise pay and benefits as a way to make up for a thin workforce and attract lost skilled labor. Although that may sound good, these actions come out of dire necessity, which never has good implications for markets. Contractors have had to hire workers who do not have the experience for construction projects. With rising prices in construction materials, an increasingly aging and unskilled workforce, and greater demand in the housing market, Florida has seen a rise in construction disputes.
If your home or business experiences construction defects, The Robertson Firm is here to help. We have the legal expertise to deal with any situation you may have, and can provide a pragmatic approach towards solving your construction problems. Contact us to schedule a consultation today!