ABC Workforce Development Investment

• Safety education accounts for the greatest share of total workforce investment at 59 percent;
• ABC contractors invested an average of 7.5 percent of payroll on workforce development in 2023, slightly down from 8 percent in 2022;
• Trade and specialty contractors continued to increase their share of the total workforce development investment, which grew to 50 percent in 2023 from 42 percent in 2022;
• 58 percent of respondents reported a labor shortage that is severe or very severe, citing an exodus of baby boomers as the top contributor; and,
• 81 percent of respondents who utilize virtual or augmented reality applied it for safety education.

“ABC member contractors not only build and rebuild structures with excellence, but they also help build lifelong, durable, transferable skill sets for their employees by investing billions to cultivate their career progression in commercial and industrial construction,” says ABC Vice President of Health, Safety, Environment and Workforce Development Greg Sizemore. “This investment is in response to the need for more than half a million additional construction workers in 2024 alone. Workforce development is part of the culture of ABC member contractors, which continue to choose flexible, competency-based and market-driven methods to upskill their workforces. Construction is among the few industries where an individual can become an apprentice, earn a paycheck while learning the skills needed for their chosen craft, and receive a portable, industry-recognized credential that will further their career.”