Construction Industry Challenges

“High construction costs, supply chain issues, and material availability have been a big concern, especially since COVID,” Yeary explained. “One factor is the rising cost of fuel, as materials cannot be delivered without it. As the cost of fuel increases, so do the delivery fees. In addition, some items are not readily accessible and take months to be distributed, and receiving items from other countries proves to be an obstacle with various trade imbalances.” He also noted that items supplied by other countries have become scarce and more expensive.

As labor costs and hourly wages continue to rise, the pool of skilled workers also diminishes - but why? Yeary shared that one reason is “because the experts are starting to retire, and there are very few young professionals that show interest in pursuing a trade as a career choice.”