Dive Brief:
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The construction industry will end the year with 7% growth in the value of construction put in place—installed or erected at the job site, according to management consulting firm FMI, which predicted continued growth in 2015.
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FMI’s 2015 U.S. Markets Construction Overview observed that industrial construction companies will continue to struggle to fill open jobs for laborers, skilled trades and professionals.
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In addition, researchers observed that funding for major civil projects will be in short supply, even for jobs that are long overdue.
Dive Insight:
Driving growth in the industrial market is the oil and gas industry, which is creating jobs faster than employers can fill them. The resulting worker shortage has bled into other sectors of the construction industry as higher-paying oil and gas firms attract employees away from building crews.