It means things will be built very slowly
Our education system failed to anticipate the needs of the economy
Also trade jobs wages will be above equilibrium pricing because of lack of supplies vs demand.
All young people today finishing high school should go into the trades as there is money to be made.
It means the US needs new training programs and even more skilled immigrants. Immigrants make up more than a third of the total workers in the construction trades. And it bodes well for blue collar wages and helping further close the wage gap.
A shortage is when something is not available at any price
4 comments
It means things will be built very slowly
Our education system failed to anticipate the needs of the economy
Also trade jobs wages will be above equilibrium pricing because of lack of supplies vs demand.
All young people today finishing high school should go into the trades as there is money to be made.
It means the US needs new training programs and even more skilled immigrants. Immigrants make up more than a third of the total workers in the construction trades. And it bodes well for blue collar wages and helping further close the wage gap.
A shortage is when something is not available at any price
Construction labor certainly is
15,000,000 at the border