Friday, May 10, 2013

I just got back from a nice vacation break. I was able to catch a Crosby, Still and Nash concert. It was great to see "rock stars" older than I am with so much energy and talent on the stage and fully appreciated by the audience.

I read the PMNET after I got back and was interested in the article about the labor shortage. The article focused on the labor shortage in construction. I always suspect articles including the ones that suggest a shortage of project managers.

Surveys of the industry are useful but a much more useful indicator of shortages is the labor or wage rates. The laws of economic indicate that when demand for a product or service is in short supply, the market will respond with higher higher price or wages, unless there is some mitigating factor. Since there is no indication of increasing wages in the construction labor market and has not been for many years, the article would be more useful if there was some explanation for the lack of wage increase.

Good to be back, although I could have used another week.
Russ