Construction Industry Faces Mounting Costs and Labour Shortage Despite Growth

Construction Industry Faces Mounting Costs and Labour Shortage Despite Growth

The construction industry showed strong growth in labour, turnover and prices during the last quarter of 2023, indicating resilient momentum despite mounting economic headwinds.

A survey of 240 Irish construction firms revealed surging turnover as 39% reported year-over-year increases in Q4 2022, with 33% anticipating this trend continuing into 2024. Employment also grew healthily as 26% added more jobs last year, and 29% expect to further expand hiring over the next three months.

However, the thriving activity faces challenges from rising costs and skills gaps. 68% of respondents saw labor costs jump from 2022, with 55% projecting continued growth into 2024, while 60% incurred more expensive raw materials, expected by 57% to persist next quarter. These supply-side strains lead 52% of construction companies to increase project pricing last year, with 45% likely to raise customer costs again in Q1 2024.

When asked to identify the industry’s greatest obstacles in 2023, 76% pointed to troubles accessing skilled labor. 62% cited growing difficulties securing profitable margins amid inflation, while 53% noted surging material expenses.

While construction activity continues gaining momentum, solving skills gaps, cost escalation and project budget overruns remain pivotal challenges for sustained success.


Are you looking to get into the Construction Industry?


MAY 18 @ 10:00 – 16:00


Construction Jobs Expo returns to Dublin. Register for FREE ADMISSION today and meet employers at the RDS on 18th May, 2024

Construction Jobs Expo is returning to Dublin in Spring 2024! This careers fair will take place on Saturday, 18th May (10am-4pm) at the RDS. This careers fair will be dedicated to the construction sector and will feature hundreds of active job opportunities . Construction Jobs Expo is the only careers exhibition of its type to feature FREE ADMISSION.

What can you expect at Construction Jobs Expo ?

  • Employers actively recruiting for hundreds of jobs at home and abroad
  • Specialised areas dedicated to jobs in the construction and engineering sectors.
  • Start your own business experts offering advice and support networks
  • A packed seminar timetable on important and topical issues by a range of industry experts

Agenda Stage

Construction Jobs Expo’s Agenda Stage will host talks on a variety of topics including jobseeking skills such as using social media to land your dream job and interview techniques as well as a CV writing workshop. Other seminars include talks by industry insiders on a variety of career topics.

We look forward to seeing you at Construction Jobs Expo !

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