The worldwide construction market is looking up, but it is dogged by a lack of skilled workers and low productivity, at least according to Turner &Townsend’s 2018 construction market survey.
The report, released on June 11, looked at 46 of the world’s largest construction markets. It rated the markets as “cold,”“lukewarm,”“warm,”“hot” or “overheating,” using its own system, which is based on the degree of competition among contractors (the “warmer” a market is, the more jobs per contractor there are, reducing competition). The report listed Dublin, Melbourne, Munich, Sydney and Tokyo as hot markets, and Amsterdam, San Francisco and Seattle as overheating markets.
When asked about the major problems they were facing, the number one problem contractors listed was a shortage of skilled workers. Continue reading here