A massive company now says they need more immigrant workers due to a labor shortage in an industry Americans are not willing to fill.
Tilson Custom Home Builders CEO Eddie Martin says his company can’t build as many homes as he’d like in Texas because his contractors don’t have enough workers — particularly skilled tradespeople such as electricians, carpenters and plumbers.
This labor shortage, exacerbated by an aging workforce and growing number of retirements, means it’s more crucial than ever for the US to allow more legal immigrants into the country to bolster the ranks of the construction industry, said Martin, CEO of Tilson Custom Home Builders in Austin.
“We’re losing business. There’s no doubt,” said Martin, whose wife’s family started the company in 1932.
“So many of those skilled workers are aging out. There’s nobody replacing them.”
Martin works with 300 contractors to build homes for teachers, police officers, firefighters and others in the middle class, with 500 units currently in the pipeline.
But he now has to tell ‘would-be clients’ that it will likely take 14 months to complete the job, instead of nine months, which prompts some of them to walk away.
If the contractors could boost their workforces by a third, Tilson says he could probably build another 175 homes a year.
Martin, along with many others in the residential and commercial construction industries, have been pushing Congress for years to create a new work visa program or expand existing ones, such as the H-2B program, to enable them to hire more immigrants.
Some would also like to accelerate work authorizations of asylum seekers so they can start training sooner instead of having to wait 180 days, as required by federal law.
The need is growing as the demand for housing increases and as federal infrastructure funding is injected into communities across the country — at a time when fewer young Americans are choosing construction as a career.
President Joe Biden has recently pushed several initiatives to lower housing costs and increase supply, including at a campaign stop in Nevada on Tuesday, reports CNN Business.
But the toxic politics surrounding the border is currently seizing up the passage of new immigration legislation in Congress, quashing any hope of allowing more documented immigrants to build homes, apartment buildings, retail developments and infrastructure projects anytime soon, says the outlet.
“Our issues most likely won’t be addressed until the situation at the southern border is addressed,” said Jim Young, senior director of congressional relations for the Associated General Contractors of America, which advocates for the commercial and multifamily construction industry.
For more news and updates like this, opt-in for push notifications.
Also Read: A Giant Company Now Announces Unexpected Layoffs in Michigan
Other Economy News Today
A massive company is now laying off 400 salaried workers due to ‘unprecedented uncertainties’, as it seeks to cut costs.
Chrysler parent Stellantis is laying off roughly 400 U.S. salaried employees in its engineering, technology and software organizations to cut costs, reports CNBC.
The automaker on Friday said the layoffs would affect about 2% of employees in those units “after rigorous organizational reviews.”
The layoffs occurred during a “mandatory remote work day” for U.S. salaried, nonunion employees in its engineering and technology organization.
Stellantis employed 11,800 U.S. salaried employees as of the end of last year.
The cuts are effective March 31.
“As the auto industry continues to face unprecedented uncertainties and heightened competitive pressures around the world, Stellantis continues to make the appropriate structural decisions across the enterprise to improve efficiency and optimize our cost structure,” the company said in an emailed statement.
A spokeswoman for the automaker declined to discuss the exact number of employees who are being laid off.
A source familiar with the actions confirmed it at about 400 workers, a number first reported Friday by The Wall Street Journal.
The action is the latest by Stellantis CEO Carlos Tavares to cut costs through layoffs, buyouts and other methods since the company was established through a merger of Fiat Chrysler and French automaker PSA Groupe in 2021.
The cuts are part of a push to achieve Stellantis’ “Dare Forward 2030” strategic plan that aims to increase profits and double the automaker’s revenue to 300 billion euros, or $335 billion, by then, among other targets.
“While we understand this is difficult news, these actions will better align resources while preserving the critical skills needed to protect our competitive advantage as we remain laser focused on implementing our EV product offensive and our Dare Forward 2030 strategic plan,” the company said.
For more news and updates like this, opt-in for push notifications.
Also Read: A Giant Company Now Announces Unexpected Layoffs in Maryland
Market News Published Daily 📰
Don’t forget to opt-in for push notifications so you don’t miss a single article!
Also, thank you to all of our blog sponsors.
This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
Scroll below to view my stock purchases this month!
You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Frank Nez’s Stock Portfolio
Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?
Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.
11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.
Recommended For You ✨
About The Author
Leave your thoughts below.
For more news and updates like this, opt-in for push notifications.