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Driving growth by closing the gap between US labor demand and supply

Harmony Internal - McKinsey

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AN ARTICLE A DAY, PICKED BY OUR EDITORS

Edited by Stephanie d’Arc Taylor
Digital Editor, Southern California

A site to behold. The Bipartisan Infrastructure Law is poised to inject $383 billion into US infrastructure over the next ten years. But right now, there aren’t enough construction workers to engineer and build the proposed infrastructure, or factory workers to manufacture the materials. Shortages at any point along the construction value chain can trigger delays, drive up costs, or even result in projects being scaled back or scrapped—which could have far-reaching ramifications for future US economic success. But all is not lost. By working in creative cooperation, the public, private, and social sectors could close the gap between construction labor supply and demand—and help the US fully embrace this once-in-a-generation opportunity. For four concrete actions, check out this article by McKinsey senior partner Adi Kumar and his coauthors.

Will a labor crunch derail plans to upgrade US infrastructure?

There’s a historic and widening labor shortfall in the US construction sector. Yet it extends far beyond jobsites and varies by location, demanding tailored solutions.

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“There’s a lot of data about how vulnerability is incredibly valuable for leaders. It makes them more approachable by their employees, and it also encourages employees to share their ideas and help contribute to problem-solving and building a company’s assets.”

—Julia Boorstin, senior media and tech correspondent at CNBC, on woman leaders being comfortable with vulnerability in a recent Author Talks interview

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Chart detailing energy and materials as being the only sector in which respondents are more optimistic now than in the June survey about potential profits

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:52 - 19 Oct 2022

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Driving growth by closing the gap between US labor demand and supply

Will a labor crunch derail plans to upgrade US infrastructure?

“There’s a lot of data about how vulnerability is incredibly valuable for leaders. It makes them more approachable by their employees, and it also encourages employees to share their ideas and help contribute to problem-solving and building a company’s assets.”

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