The construction sector employed almost 8.3 million people in the United States in January 2025, which was the highest number since the 21st century. There is a strong correlation between the amount of investment in construction and demand for workers. For example, in the years following the 2008 financial crisis, the value of new construction put in place in the U.S. decreased, which also translated in lower employee numbers in the construction sector. How to improve the job shortage? Many contractors have reported difficulty finding skilled workers recently. However, that has not only been the case in the construction industry, but in many other sectors of the economy too. For example, U.S. restaurants reported shortages in different positions in the past years. Although there are many reasons why workers may quit, in general, an increase in the salaries of construction employees may help in reducing the number of resignations. Worker shortages in Europe The United States is not the only country where companies have been facing these challenges. Thus, the percentage of French infrastructure companies reporting staff shortage peaked in 2019 and 2023. However, there are certain industries that struggle finding new employees more than construction. Social and care work had the highest skilled labor shortages in Germany.

In 2019, a Statista study on labor shortages showed that in 2020, 51 percent of the North American workforce were working in medium-skilled occupations, with this share decreasing to 50 percent by 2030.

In 2019, a Statista study on labor shortages showed that in 2020, 16 percent of the North American workforce were working in low-skilled occupations, with this share decreasing to 15 percent by 2030.

In 2019, a Statista study on labor shortages showed that in 2020, 33 percent of the North American workforce were working in occupations that required higher education, with this share increasing to 35 percent by 2030.

Snapshot img

US Commercial Construction Market Size 2025-2029

The us commercial construction market size is forecast to increase by USD 191 billion billion at a CAGR of 2.7% between 2024 and 2029.

The Commercial Construction Market in the US is experiencing significant growth driven by the increasing trend towards sustainable building practices and the emergence of smart cities. Green buildings, which incorporate energy-efficient designs and renewable energy sources, are gaining popularity due to their environmental benefits and cost savings over the long term. This trend is expected to continue as more businesses prioritize sustainability and energy efficiency in their operations. However, the market also faces challenges, most notably the lack of skilled labor in the construction industry. The industry's aging workforce and a decline in new entrants have created a labor shortage, leading to delays and increased costs for construction projects. To mitigate this challenge, companies are exploring innovative solutions such as modular construction and automation technologies to streamline processes and reduce reliance on manual labor. In , the US Commercial Construction Market presents significant opportunities for growth, particularly in the area of sustainable building practices and smart city development. However, companies must also address the challenge of the labor shortage by adopting new technologies and innovative construction methods to remain competitive and deliver projects on time and on budget. By staying informed of these trends and challenges, businesses can effectively capitalize on market opportunities and navigate challenges in the ever-evolving construction landscape.

What will be the size of the US Commercial Construction Market during the forecast period?

Request Free Sample

The commercial construction market in the US continues to exhibit activity, driven by the demand for new office buildings, retail spaces, outdoor leisure facilities, and mixed-use developments. Urbanization and infrastructure development programs are significant growth areas, fueling the need for renovation and retrofitting of existing structures, as well as urban regeneration projects. Energy-saving designs and water infrastructure are key trends, with a focus on reducing costs through efficient building materials and product lead times. The non-residential building market is experiencing cost escalation due to fluctuating material prices, particularly for building materials like lumber, and labor shortages, exacerbated by a shrinking labor force. Despite these challenges, investments in commercial construction remain strong, reflecting the market's ongoing importance to the US economy.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. SectorPrivate constructionPublic constructionTypeBuildingOthersEnd-userOffice buildingsRetail spacesHotels and hospitalityHealthcare facilitiesOthersGeographyUS

By Sector Insights

The private construction segment is estimated to witness significant growth during the forecast period.

The US commercial construction market encompasses the development of various structures, including office buildings, retail establishments, outdoor leisure facilities, and urban infrastructure projects. Notable initiatives in this sector include the construction of the El Paso VA Health Care Center in Fort Bliss, celebrated in August 2024, and the Skymark Reston Town Center, the tallest residential tower in the Capital Region, topped out in October 2023. These projects contribute to the expansion of the market, with a focus on mixed-use developments, infrastructure building, and energy-saving designs. However, challenges such as cost escalation due to fluctuating material prices, labor shortages, and infrastructure development programs require careful planning and management. Key areas of investment include public transportation, broadband internet, electric grid reconstruction, water infrastructure, and multifamily housing. Operational efficiency, service delivery, and safety are essential functional areas in the non-residential building market. Technological advancements in communication linkages, data and communication, and EV units are transforming the industry.

Get a glance at the market share of various segments Request Free Sample

The Private construction segment was valued at USD 1313.50 billion in 2019 and showed a gradual increase during the forecast period.

Market Dynamics

Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advant

The US waste sorting robots market size reached USD 824.9 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 3,659 Million by 2033, exhibiting a growth rate (CAGR) of 18.00% during 2025-2033. The rising demand for automation efficiency and accuracy, increasing focus on sustainability, and escalating labor shortage and recycling targets represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the US waste sorting robots market report, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on recycling facilities and end user.

Graph and download economic data for All Employees, Nursing and Residential Care Facilities (CEU6562300001) from Jan 1990 to Feb 2025 about nursing homes, nursing, health, establishment survey, residential, education, services, employment, and USA.

Snapshot img

Combine Harvester Market Size 2025-2029

The combine harvester market size is forecast to increase by USD 25.22 billion at a CAGR of 9.7% between 2024 and 2029.

The market is experiencing significant growth due to several key factors. One of the primary drivers is the farm labor shortage in the agriculture sector, leading farmers to invest in automated and efficient harvesting solutions. The integration of advanced technologies, such as artificial intelligence, geographic information systems, drones, and remote sensing, into agriculture is driving market growth. Another trend shaping the market is the integration of advanced technology in combine harvesters, such as GPS and autonomous steering, which enhance productivity and reduce operational costs. However, the market is also faced with challenges, including the volatility in raw material prices of combine harvesters, which can impact the affordability of these machines for farmers. Overall, the market is expected to witness steady growth in the coming years as farmers seek to optimize their operations and increase yields in an increasingly competitive agricultural landscape.

What will be the Size of the Combine Harvester Market During the Forecast Period?

Request Free Sample

The market encompasses machinery utilized for the combined operations of reaping, threshing, winnowing, and cleaning cereals, grains, vegetables, and fruits during agricultural production. This market experiences significant growth due to increasing global population demands for food products, automation trends in farming, and the need to reduce labor requirements.



Advanced technology integration, such as GPS and yield monitoring, enhances efficiency and productivity. The market's expansion is further driven by the versatility of combine harvesters to process various crops, including cereals, grains, and vegetables. Track combine harvesters enable real-time monitoring and optimization of farming operations, contributing to the market's continuous growth.

How is this Combine Harvester Industry segmented and which is the largest segment?

The combine harvester industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Self-propelled
  Tractor-pulled
  Power take off (PTO)-powered combine harvesters


Type

  Wheel type
  Crawler type


Geography

  Europe

    Germany
    UK
    France


  North America

    Canada
    US


  APAC

    China
    India
    Japan


  South America

    Brazil


  Middle East and Africa

By Product Insights

The self-propelled segment is estimated to witness significant growth during the forecast period.

The self-propelled segment of the market is projected to lead the market growth due to its superior features and advantages over traditional tractor-pulled and other types of harvesters. Self-propelled combine harvesters are equipped with larger diesel tanks and offer increased grain capacity, minimal grain breakage, higher grain cleanliness, and superior maneuverability in fields with challenging soil conditions. Their diesel engines serve dual functions as both a propulsion system and a harvester.

Furthermore, ideal for harvesting crops such as wheat, paddy, soybean, mustard, and sunflower, these harvesters are increasingly preferred by farmers and governments worldwide for enhancing food safety and yield through timely harvesting. The self-propelled market is expected to expand significantly during the forecast period.

Get a glance at the Combine Harvester Industry report of share of various segments Request Free Sample

The self-propelled segment was valued at USD 20.66 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

Europe is estimated to contribute 31% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions, Request Free Sample

The European market is experiencing growth due to the shrinking agricultural workforce and government initiatives promoting agricultural mechanization. With labor shortages becoming a significant challenge, farmers in major European countries such as the UK, Germany, Spain, France, and Italy are increasingly adopting combine harvesters to minimize their reliance on manual labor. Efficient forage handling is crucial for producing high-quality silage, and combine harvesters facilitate this by minimizing harvesting losses. The EU's agricultural workforce continues to decline, making mechanization of agricultural activities, including forage handling, essential. As a result, farmers are investing in

Latin America Warehouse Robotics Market size was valued at USD 53.25 Billion in 2023 and is projected to reach USD 88.13 Billion by 2031, growing at a CAGR of 6.5% from 2024 to 2031.

Latin America Warehouse Robotics Market Dynamics

The key market dynamics that are shaping the Latin America Warehouse Robotics Market include:

Key Market Drivers:
Growth in E-commerce and Omnichannel Retail: The rapid expansion of e-commerce and omnichannel retail in Latin America is a major driver for the warehouse robotics market. E-commerce sales in Latin America are projected to reach $84.95 billion in 2023, up from $53.6 billion in 2019, representing a compound annual growth rate of 12.3%.
Labor Shortages and Increased Focus on Warehouse Automation: Latin American countries are facing labor shortages in the logistics and warehousing sectors, leading warehouses to increasingly adopt robotic solutions to improve efficiency and productivity.

The number of production workers in the construction industry in the United States has increased in 2021 and 2022. In 2006, there were 9.56 million construction workers in the U.S., after which construction employment fell sharply. The reason for that decrease was the economic crisis that started in 2008. Construction labor shortage As the world rapidly urbanizes, the construction industry struggles to keep up with the need for new infrastructure and buildings. However, many people now avoid construction jobs as they are perceived to be difficult, dirty, or dangerous. The shortage of skilled construction labor has been immense across the U.S. and Canada, in the latter country, the number of vacancies in the construction sector peaked in April 2022, as they represented over eight percent of all construction jobs. However, those figures are still quite high. Construction labor costs worldwide The cost of salaries and wages in the European Union have increased at a fast pace, with an increase of over 50 percent between 2015 and 2023. In the United Kingdom, the type of subcontractor workers with the highest salaries were those in electrical and plumbing construction trades. While roofing and steel and timber frame erection were among the trades with the lowest salaries. The overall salary expenditure in the construction industry soared in Argentina during that period. However, those figures can also be influenced by other factors, including inflation. In addition to that, those figures measure the overall spending on labor, which does not only depend on the value of the average salary, but also on how many people were employed at a given point in time.

Snapshot img

US Residential Construction Market Size 2025-2029

The residential construction market size in the US is forecast to increase by USD 242.9 million at a CAGR of 4.5% between 2024 and 2029.

The residential construction market is experiencing significant growth, driven by several key factors. Firstly, the increasing household formation rates in the US continue to fuel demand for new housing units. Secondly, there is a rising focus on sustainability in residential construction projects, with homebuilders increasingly adopting energy-efficient and eco-friendly building materials and practices.
However, the market also faces challenges, including a shortage of skilled labor for large-scale residential real estate projects, which can impact project timelines and budgets. These trends and challenges are shaping the future of the residential construction industry in the US.

What will be the US Residential Construction Market Size During the Forecast Period?

Request Free Sample

The residential construction market is experiencing a significant shift as the affordable housing trend gains momentum. The Federal Reserve's decision to keep the federal funds rate low has contributed to a decrease in mortgage rates, making it an opportune time for home buyers to enter the market. However, the housing supply remains a concern, with construction spending in the residential investment sector showing only modest growth. The labor market's current state is another factor influencing the residential construction industry. With a low unemployment rate, there is a high demand for labor, leading to increased wages and, in turn, higher construction costs.
Inflation also poses a challenge, as it erodes the purchasing power of home buyers and builders alike. The economy's overall health plays a crucial role in the residential construction market's dynamics. A strong economy typically leads to increased demand for new homes, as evidenced by the double-digit growth in housing starts and building permits for single-family homes. However, a recession can lead to a significant decrease in construction activity, as seen in the cancellation rate of housing projects. The Federal Reserve's interest rate decisions, inflation, and the economy's health all impact the residential construction market. Affordable housing programs, such as housing choice vouchers and fair housing programs, play a vital role in ensuring access to housing for a broader population. The construction sectors must navigate these market dynamics to remain competitive and meet the demand for new homes.
The US residential construction market is seeing significant shifts, driven by various housing market trends. Sustainable homebuilding practices are gaining momentum, with a focus on energy-efficient homes and green building materials. Modular construction and prefab housing are becoming increasingly popular for their cost-effective and timely solutions. Urban redevelopment projects are revitalizing city areas, while suburban expansion is fueling demand for new homes. Affordable housing projects are crucial in addressing housing shortages, and real estate investment continues to thrive in these sectors. Smart home integration is also on the rise, with luxury home construction embracing high-tech features. The impact of mortgage rates, coupled with multifamily housing growth and home renovation demand, adds complexity to the market's dynamics.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Apartments and condominiums
  Villas
  Other types


Type

  New construction
  Renovation


Application

  Single family
  Multi-family


Geography

  US

By Product Insights

The apartments and condominiums segment is estimated to witness significant growth during the forecast period.

The residential construction market in the US is experiencing growth in the apartment and condominium sectors, driven by shifting preferences and lifestyle choices. Urbanization is a significant factor fueling this trend, as more individuals opt for the conveniences and amenities offered in urban areas. As a result, developers are constructing modern, sustainable, and community-focused living spaces in the form of high-rise apartment buildings and condominium complexes. These structures cater to various demographics, including intergenerational groups and younger generations, reflecting diverse living circumstances. The labor economy and vaccination rates have also contributed to the continued activity in the residential sector, allowing for steady progress in construction projects. While the non-residential sector has faced challenges, the residential sector remains a vi

Snapshot img

Metal Cutting Tools Market Size 2025-2029

The metal cutting tools market size is forecast to increase by USD 4.41 billion at a CAGR of 3.9% between 2024 and 2029.

The global metal cutting tools market is growing steadily, driven by increasing demand from manufacturing and industrial sectors, alongside advancements in tool design and materials. Key factors include the shift toward automation in production processes, which boosts efficiency and precision, and the adoption of advanced materials like carbide and ceramics, enhancing tool durability and performance for industries such as automotive, aerospace, and construction.
This report offers a comprehensive overview of the global metal cutting tools market, detailing market size, growth forecasts, and key segments like additive manufacturing, milling, drilling, and turning tools. It provides practical insights for business strategy, procurement decisions, and operational planning. A prominent trend highlighted is the rise of smart cutting tools integrated with sensors for real-time monitoring, improving productivity and reducing downtime. 
A notable challenge addressed is the pressure from intense competition, which pushes manufacturers to innovate while managing rising production costs. The report also explores regional variations, spotlighting opportunities in North America, Europe, APAC, and other key markets. For businesses aiming to stay competitive globally, this report delivers valuable data and analysis to adapt to market shifts and overcome operational hurdles, ensuring they remain agile in the evolving metal cutting tools industry

What will be the Size of the Metal Cutting Tools Market During the Forecast Period?

Request Free Sample

Social distance restrictions, supply chain delays, and labor shortages have impacted sales and profitability in recent times. Despite these challenges, the market remains robust, driven by the continuous demand for precision and efficiency in manufacturing processes. Sophisticated materials and the increasing focus on quality control continue to shape the market. Machines like boring machines, grinding machines, and lathe machines are essential for producing high-quality components. The incorporation of Industry 4.0, such as automation and robotics, is revolutionizing the sector by enhancing productivity and reducing human error. The market is a dynamic and evolving industry, driven by technological advancements and the demands of various sectors.

How is this Metal Cutting Tools Industry segmented?

The metal cutting tools industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Milling tools
  Drilling tools
  Others


Application

  Automotive
  Construction
  Aerospace and defense
  Electronics
  Others


Tool Type

  Indexable Inserts
  Solid Round Tools


Geography

  APAC

    China
    India
    Japan
    South Korea


  Europe

    Germany
    UK
    France


  North America

    Canada
    US


  South America

    Brazil


  Middle East and Africa

By Product Insights

The milling tools segment is estimated to witness significant growth during the forecast period. Milling tools, also referred to as milling cutters, are essential components in milling machines for milling processes. These tools come in various types, including slitting cutters, milling cutters, end mills, and gear cutters, each designed for specific applications. The demand for milling tools is anticipated to increase due to their cost-effective productivity benefits for manufacturers of all sizes. Even specialized manufacturers, such as those producing dies and molds or utilizing High-Speed Machining (HSM) for EDM electrodes, have recognized the advantages of this machining process in terms of cost reduction, enhanced quality, and shortened production times.

Advanced materials like titanium, superalloys, high-tensile steels, and ceramics require high-precision and high-efficiency milling tools. The integration of Industry 4.0 technologies, such as smart cutting tools, data analytics, predictive analytics, and quality assurance, is transforming the metal cutting sector. Despite challenges like high initial investment, social distance restrictions, supply chain delays, and labor shortage, the industry's growth is expected to continue, driven by the economic situation, manufacturing activity, and the increasing utilization of sophisticated materials.

Get a glance at the share of various segments. Request Free Sample

The milling tools segment was valued at USD 2.30 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 47% to the growth of the global market during the forecast period

Snapshot img

Private Security Services Market Size 2025-2029

The private security services market size is forecast to increase by USD 259.4 billion at a CAGR of 11.9% between 2024 and 2029.

The market is experiencing significant growth, driven by rapid urbanization and population expansion in various regions. This demographic shift has led to an increased demand for security services to protect both individuals and businesses from crime and security threats. Another key trend influencing market growth is the increasing popularity of virtual security systems, which offer cost-effective and efficient solutions for monitoring and surveillance. However, the market also faces challenges, including a shortage of private security personnel to meet the growing demand. Companies seeking to capitalize on market opportunities must focus on innovative solutions that address this labor shortage, such as automation and outsourcing. Additionally, investing in research and development of advanced security technologies, like artificial intelligence and machine learning, can provide a competitive edge in the market. Overall, the market presents significant opportunities for growth, particularly for companies that can effectively address the challenges of labor shortages and evolving security threats.

What will be the Size of the Market during the forecast period?

Request Free Sample

The market encompasses a range of offerings designed to mitigate risks for individuals and businesses in an increasingly complex threat landscape. Criminal activities, including physical security threats and cybersecurity risks, continue to evolve, driving demand for specialized services such as surveillance, monitoring, access control, event security, and advanced technologies like AI and IoT for enhanced protective measures. Crime rates and cybersecurity threats pose significant challenges, with hackers, phishing, malware, and data vulnerabilities among the primary concerns for private organizations. Private security firms provide essential risk handling services, employing advanced IT systems and skilled personnel to safeguard company information and employees.
The market is characterized by continuous innovation, with a focus on data pooling and advanced technologies to improve threat detection and response capabilities. Overall, the market is a dynamic and growing industry, responding to the evolving needs of businesses and individuals in an increasingly interconnected world.

How is this Private Security Services Industry segmented?

The private security services industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Industrial
  Residential
  Financial institutions
  Others


Service

  Manned guarding
  Electronic security services
  Cash services


Geography

  APAC

    China
    India
    Japan


  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  South America

    Brazil


  Middle East and Africa

By End-user Insights

The industrial segment is estimated to witness significant growth during the forecast period. The industrial sector represents a significant portion of the market, with manufacturing industries being the primary consumers. These industries require continuous security and surveillance due to the complex nature of their operations, which often include sophisticated manufacturing plants, warehouses, and assemblies. Private security services, such as manned guarding and electronic security systems, are in high demand to ensure the safety and security of these facilities. Outsourcing security needs to private security providers enables manufacturers to concentrate on their core business activities, enhancing productivity and manufacturing plant efficiency. Consequently, the demand for private security services remains strong in the industrial sector.

Get a glance at the market report of share of various segments Request Free Sample

The industrial segment was valued at USD 109.70 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market size of various regions, Request Free Sample

The market in APAC experienced a notable expansion in 2024, fueled by the economic development of countries such as China, India, Thailand, and Indonesia. With increasing per capita income and urbanization, there is a growing demand for residential and commercial complexes in the region. This trend is driving the need for private securi

This statistic describes the logistics market growth in the Gulf Cooperation Council from 2015 to 2017 with a forecast until 2020. It was estimated that the logistics market in the GCC region will grow to the value of 100 billion U.S. dollars by 2020.

Global overview of warehouse automation

The recent changes in warehouse automation technology were a game-changer in the logistics industry. The market size of warehouse automation worldwide was expected to exceed 30 billion U.S. dollars by 2026, from about 15 billion U.S. dollars in 2019. Continuous new innovative solutions and smart technology support the growth potential of the industry. Logistics is a very important factor in the growth of businesses that depend on supply chains such as those in the e-commerce and retail sectors. Those sectors have witnessed a huge increase in demand since the start of the COVID-19 pandemic in 2020, due to the lockdown precautionary measures which directed many people towards online shopping. The largest percentage of first-time online shoppers in the United Arab Emirates (UAE) were buying pharmaceutical products, while the largest share of first time shoppers in Saudi Arabia were buying groceries. The profitability of supply chain businesses highly depends on warehouse operations. Warehouse automation increases warehouse space efficiency and speeds up inventory operations. It also solves issues that arise from labor shortages and high costs. The most adopted warehouse technology in 2019 was cloud computing and storage technology. Maintenance, repair, and operations (MRO) services technology were expected to make up the highest share of warehouse automation by 2025.

MENA warehouse automation

In the Middle East and North Africa (MENA) region, the increase of demand and use of e-commerce and e-retail caused the logistics sector to work towards increasing productivity and cost-efficiency. Companies started to introduce automation into distribution logistics such as the food producer Almarai in Saudi Arabia. Moreover, the UAE also stressed the significance of automation as they launched an awareness campaign about the importance of smart warehouse management systems (WMS) to more than 21 thousand companies. The warehouse automation market in the region was expected to reach a value of 1.6 billion U.S. dollars by 2025. The growth in e-commerce is the main driver for warehouse automation. More than 40 percent of respondents in a survey in Saudi Arabia and UAE stated that fast delivery is one of the main factors influencing their choice of online shopping platforms.

This statistic shows the gross domestic product (GDP) in Russia from 1997 to 2023, with projections up until 2029. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. In 2023, the GDP in Russia was around 2.01 trillion U.S. dollars. Russian economy The Russian economy is primarily directed by both the private sector and the state. As a member of the BRIC, Russia is currently experiencing an accelerated growth within the economy with a chance of earning a place in the G7 economies. As of the 1990s, a large amount of the country’s industrial and agricultural sectors were privatized, however energy and military production remained with the state for the most part. As a result, the majority of Russian exports consisted of energy products as well as high-tech military equipment. The effects of the global financial crisis of 2008 took a similar toll on the Russian economy, however only had short term effects. Russia recovered after 2 years and has since experienced exponential economical growth and productivity due to aggressive and prompt actions from the government, providing Russia with one of the most profitable economies in the world. Additionally, unemployment reached an all-decade low from the recent Russian economic boom, which furthermore implies that there is a slight growth in wages, however is also accompanied by a large worker shortage.

In 2023, the size of the construction industry relative to the gross domestic product of the United States was slightly higher than in the previous year. That means that the construction industry grew at a faster pace than the economy as a whole. The value added of that sector peaked in 2006 at five percent of the GDP. The amount of construction investment as a share of GDP is, however, another indicator that provides a somewhat different insight into the industry as it is calculated differently. U.S. construction: a sizable market The construction market in the United States is one of the largest in the world, with private spending still increasing on a year-to-year basis. Most of that money comes from the private construction market, which is also the segment that has traditionally been more volatile. The number of people employed in the industry has also increased in the past years. During the coming years, it is also expected that the volume of new construction put in place will also keep increasing. Construction industry challenges To maintain its competitive standing, the construction industry must overcome various barriers, including those within the industry and external complications like the state of the U.S. economy. For example, a shortage in skilled labor, particularly for specific trade jobs, can be a relevant challenge. In 2022, many home builders also reported shortages of building materials and appliances.

Motor vehicle and parts dealers in the United States had just under two million employees on their payrolls in June 2022. The number of motor vehicles and parts manufacturing employees amounted to roughly 990,600 people in June 2022, up from around 928,500 the same month a year earlier. This upward trend in employment does not match with the projected automobile demand in the United States, expected to drop in 2022.

The Chip Shortage Impacts The Industry Though sharply affected by the coronavirus pandemic, car sales already improved later in 2020. December 2020 showed a higher motor vehicle sales volume than any other month that year. Despite this encouraging rebound, sales dropped amid the automotive semiconductor chip shortage, which led to production cuts and a dwindling vehicle inventory in the U.S.

Effects of prolonged work stoppages and waning demand in 2020 Employees felt the effects of the coronavirus outbreak in the United States in 2020. Factories were closed for a period of time, and J.D. Powers estimated that the industry would produce between two and 2.5 million fewer vehicles, resulting in lost vehicle sales of up to about three million units.

Gross domestic product in Poland has been increasing since 2017 and is expected to reach approximately 1,063.49 billion U.S. dollars by 2029. Poland’s economy tripled in size during the early 2000s, before being hit by the global financial crisis. After several years of fluctuation, Poland’s GDP recently reached an all-time high of around 811.74 billion U.S. dollars in 2023. Major changes in the nineties Poland suffered an economic crisis during the late 1980s, with shortages of goods and a debt crisis among the reasons for a rising inflation rate. In the two years from 1988 to 1990, inflation increased from around 60 percent to almost 600 percent. However, Poland’s GDP began to grow during the 1990s, following the end of communist rule. Poland’s GDP per capita reflects this change, rising from around 1,600 U.S. dollars in 1990 to more than 4,300 U.S. dollars in 1999. Improving rates of employment Unemployment rates in Poland have steadily improved over recent years and in 2018 reached some of the lowest levels the country has reported in decades. Poland’s unemployment rate has been declining since 2013 and fell below four percent in 2018. Youth unemployment rates were especially affected following 2008, with the number of young people without jobs growing by roughly ten percent in just five years. By 2013, almost a third of those aged between 15 and 24 years were unemployed.

As of March 2025, South Africa had the highest unemployment rate among the 19* countries that are members of the G20. The unemployment rate in South Africa stood at 33.9 percent that year. The country has recently been plagued by an economic downturn, including energy shortages and high unemployment levels. On the other hand, Japan had the lowest unemployment rate at just 2.5 percent. Economic inequality in South Africa Not only does South Africa top the G20 in overall unemployment, but it also has a significant level of youth unemployment, as nearly half of the young population is unemployed. Thirty years after the end of Apartheid, South Africa is also still one of the most unequal countries in the world, with a Gini score of 0.63. The prominence of inequality in the country makes escaping unemployment and underemployment difficult. Japanese economic slowdown While Japan had the lowest unemployment rate out of all G20 nations, as well as the lowest youth unemployment rate out of the G20 nations, Japan’s economy is still facing many challenges. With an aging population, the total Japanese population is facing a rapid decline, meaning that it will struggle to have enough workers participating in the labor market. Despite this, Japan maintains strict immigration policies, limiting the chances for foreign workers to move to Japan. Moreover, Japan has the second lowest fertility rate out of the G7 nations and one of the lowest fertility rates globally, adding another challenge in addressing population shrinkage.