When looking at a construction site, one can see its workers bustling along, setting the concrete, placing beams or even framing windows. What is often overlooked, however, is the speed of which construction is being completed.
According to a new report from CNBC, construction around the country is taking about two months longer than usual to build because there aren't enough available workers.
The average sales rate in Denver is usually about 15,000 homes per year, however the market is on track to hit about half that rate.
Some may blame the recession for this sudden drop, as thousands of construction workers fled to the energy sector during that time. The assumption was that they would return as homebuilding increased, but that wasn't the case. The labor shortage has actually gotten worse since last year.
As more Americans enroll in college, less are inclined to pursue a career in construction. Thus leaving the construction field to immigrant laborers.
"These jobs, Americans don't want," Gene Myers, CEO of Thrive Builders said. "We have a hard-working Hispanic labor force here in Denver that really is the foundation for the construction industry."