Multifamily housing’s long-run labor crisis
The construction industry alone needs over 61,000 new hires every month just to keep up with industry growth and worker attrition. On-going labor shortages across all sectors will continue to elevate wages and turnover.
U.S. population by age and gender in millions
COMPONENTS OF U.S. POPULATION CHANGE
One birth every 9 seconds
One death every 11 seconds
one border crossing every 32 seconds
net gain of one person every 18 seconds
U.S. Labor force participation rate
67.3% Jan 00
62.8% Aug 23
Full-time U.S. employees, number of employees
128.66 Aug 2021
135.45 Aug 2021
Number of U.S. residents, millions
152.27 1950
333.28 2022
U.S. births per 1,000 people
23.7 1960
11 2021
Average hourly earnings of all U.S. private employees
$20.04 Mar 06
$33.82 Aug 23
Foreign-born workers number in the U.S. workforce
21.1 Jan 2010
30.4 Aug 2023
SOURCE: GENERATIONAL AGE DEFINED BY THE CENSUS BUREAU; U.S. LABOR DEPARTMENT VIA FEDERAL RESERVE BANK OF ST. LOUIS; U.S. BIRTHS NOT SEASONALLY ADJUSTED; AVERAGE HOURLY EARNINGS SEASONALLY ADJUSTED; AVERAGE HOURLY EARNINGS OF ALL U.S. PRIVATE CITIZENS SEASONALLY ADJUSTED; BUREAU OF LABOR STATISTICS; STATISTA 2022 DATA; U.S. NATIONAL DEBT, THE BALANCE, JAN. 2023; MONTHLY NUMBER OF FULL-TIME EMPLOYEES IN THE U.S. FROM AUG. 2021 TO AUG. 2023; COMPONENTS OF POPULATION CHANGE BY THE US. CENSUS BUREAU
