Story perspectives

Federal Funding Boosts Construction Amid Labor Shortages

1/11/2025

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Summary

Story summary

In 2024, public construction projects thrived due to federal funding, while multifamily and office sectors faced declines.
Mortenson aims to hire over 500 noncraft workers and expand its craft workforce to 4,000, targeting energy storage initiatives.
Labor shortages continue, particularly for contractors in non-booming sectors, with a potential decrease in overall demand for construction workers by 2025.
Federal funding from the Infrastructure Investments and Jobs Act is anticipated to stabilize wages and sustain ongoing projects.

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Story summary

In 2024, public construction projects thrived due to federal funding, while multifamily and office sectors faced declines.
Mortenson aims to hire over 500 noncraft workers and expand its craft workforce to 4,000, targeting energy storage initiatives.
Labor shortages continue, particularly for contractors in non-booming sectors, with a potential decrease in overall demand for construction workers by 2025.
Federal funding from the Infrastructure Investments and Jobs Act is anticipated to stabilize wages and sustain ongoing projects.