Report: Construction’s Average Age Rises, Retirement Plans Lag \ stacker news ~econ

TL:DR

It’s no secret there’s a labor shortage in construction, and a new report indicates that the average age of workers in the industry continues to rise.

The average age of construction workers increased 1.2% from 41.6 to 42.1 from 2011 to 2023, according to CPWR’s recently released “Aging and Retirement Trends in the Construction Industry” report.

As the average age in construction has risen, so has the number of workers 55 and older.

The only years it didn’t rise were in 2020, which was likely due to Covid-19 leading to illness or early retirement, and in 2023, as more baby boomers hit retirement age,

the report said.

[….]

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My Thoughts 💭

While the construction force gets old it lags behind other sectors in the American economy. But as more boomers retire trucking labor will need to expand or life will get more expensive for the average American. As the economy is ran on shipping and receiving. The article has more information you can dive into if you wish.

141 sats \ 0 replies \ @Undisciplined 22 Mar

We could have infrastructure expansion pick up some of the slack, like rail, ports, and pipelines. That would require more upfront costs, but ultimately far fewer workers per quantity transported.

135 sats \ 0 replies \ @kurszusz 23 Mar

This is a sad thing....also happening in my country... Construction’s Average Age Rises (but not just the construction industry, but almost all industries which requires physical work)...and in the same time, police officers (even those who worked in an office until the end) can retire at 45...

Sad, sad, and sad...