Issue link: https://nebusinessmedia.uberflip.com/i/1027352
wbjournal.com | September 17, 2018 | Worcester Business Journal 11 Share Of Young Share Of Young 45-day Job Construction Workers Construction Workers Posting Survival Rate (Less Than 25), 2005 (Less Than 25), 2016 Massachusetts 43.1% 12.4% 9.9% Connecticut 41.5% 12.4% 9.3% Rhode Island 39.9% 14.3% 10.9% Vermont 38.9% 20.4% 9.2% New Hampshire 37.9% 13.4% 9.3% Maine 36.5% 11.8% 9.3% U.S. AVERAGE 39.0% 14.74% 10.44% Massachusetts has the highest rate of unfilled construction jobs in the nation, and less than 10 percent of its construction workforce is aged 25 or younger. Source: BuildZoom.com Older workforce FINANCIAL FREEDOM NEVER GOES OUT OF STYLE Worcester-area residents have been entrusting Bartholomew & Company to guide their financial lives since 1994. As one of the region's premier wealth management firms, we offer time-honored investment strategies to address every element of your financial picture. For a personalized plan to help you achieve your vision for today and the future, partner with the experts who are right in your own community. Call us for a complimentary consultation at 508.753.8807, or visit www.bartandco.com. 370 MAIN STREET, SUITE 1000, WORCESTER, MA 01608 | 508.753.8807 Securities and advisory services offered through Commonwealth Financial Network ® , Member FINRA/SIPC, a Registered Investment Adviser. ICCreditUnion.org or businessbanking@iccreditunion.com Focus on your BUSINESS, We've got the BANKING! Lending Intelligent Checking Visa Credit Card Remote Deposit (RDC) Intelligent Business Solu ons Online Banking Merchant Services BizNow Services 800.262.1001 | Federally Insured by NCUA term, the Kansas City Fed said. "But," it added in its report, "the level of home construction is likely to remain low by historical benchmarks." With fewer workers, there has simply been less ability to build new homes. In Worcester County, the past decade has seen less than half of the new-home construction compared to just before the recession, according to Census data. Because of low supply and high demand, the price of a single-family home in Worcester County hit $307,000 in June, a record high and an 11-percent increase over the previous year, accord- ing to Boston real estate date firm e Warren Group. Nationwide, the story is much the same. During the Great Recession, construction of new houses as a share of U.S. households hit its lowest level since recordkeeping began in 1957 and has barely increased since, according to the Kansas City Fed report. e nation built more than 1 million new homes each year from the end of World War II until 2007, Emrath said. en, for six straight years, the nation fell short of that amount. "Everything is on the upward trend in order of things only getting worse," Emrath said. W