Dive Brief:
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Homebuilders in the oil boom towns of North Dakota, Texas and Colorado are having a hard time competing for skilled workers against big oil companies, which are recruiting them with signing bonuses of up to $10,000 and salaries topping $100,000 a year.
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Oil companies are poaching drivers, carpenters, plumbers, electricians and other trades, who sometimes leave their builder-employers in the middle of shifts to accept the higher-paying positions, CNNMoney reports.
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Aside from having to constantly recruit and train replacement workers, builders say they are unable to complete projects on time with pared-down staffs.
Dive Insight:
Here’s another reason homebuilders in these oil economies are having trouble finding and keeping crews: There’s no place for them to live. Oil booms multiply the demand for housing, which is in short supply because of the construction delays. One firm told CNNMoney that a rare available rental in Williston, ND, a 1,150-square-foot apartment, comes with a $3,200-a-month price tag—three times higher than the going rent of a place that’s not near an oil rig.