Labor Productivity in Construction: How a Labor Shortage and Misaligned Incentives Led to an Underinvestment in Technology.
Labor productivity in construction is declining. A recent study by Syverson & Goolsbey, economists at Chicago Booth and the Federal Reserve, confirmed what many of us already know. Productivity in construction has declined by 1% per year since 1970, while other industries saw increases of around 2% during the same period. Add it up over […]