A new survey released today from DEWALT, a Stanley Black & Decker (NYSE: SWK) brand and leader in total jobsite solutions, found more than half of U.S. contractors (55%) feel a lack of skilled workers is a barrier to growing their current business. That number rises to 69% among businesses with $10MM plus annual revenue and 64% among those with 20 years or more of experience. Looking to the future, 48% believe training the next generation of trades professionals is one of the most critical needs for the success of the construction industry in 2023.
“The DEWALT Powering the Future Survey sheds further light on the wide-reaching gap in skilled labor and its continued impact on the residential and commercial construction industries. Add to that the overwhelming demand for trades expertise during the COVID-19 pandemic and the [skilled-labor] gap is quickly becoming the most critical need that will dictate the future success of the field,” said Allison Nicolaidis, President, Power Tools Group, Stanley Black & Decker. “That’s why DEWALT is committed to putting a heavier spotlight on these challenges and taking a lead role in supporting our industrial and construction partners to overcome them.