Terner Fellow Issi Romem Releases New Study on Construction Labor Shortages

Issi Romem, Chief Economist at BuildZoom and a Terner Fellow, has released a new study on the relative severity of construction labor shortages across states.

Published on the BuildZoom blog and profiled in the Wall Street Journal, the study shows that while construction employment rates have recovered to pre-recession levels (circa 2005), the size of the construction workforce has diminished. The study found that a key piece of this shortage is young construction workers, whose numbers continue to decline in states hit hard by the recession and have not recovered at corresponding levels in states where home values have recovered.

A shortage of construction labor is one of many factors driving up the cost of building housing.