Key insights from the Labour Forecasting Tool
Based on current forecasts, demand within the engineering construction industry could peak as early as 2028, with around 40,000 additional workers needed on top of the existing supply of 101,000, taking into account retirements. This could represent a 28% increase in demand between 2023 and 2028.
Should labour demand be met each year, 2024 will be a pivotal year, with nearly 8,000 additional workers potentially needed to meet demand that year. 40% of them could be required to work on offshore wind projects. A further 25% could work on the pre-construction phases of hydrogen and carbon capture projects. Failure to meet demand in 2024 could lead to delays and could shift the pressure to subsequent years. This could ultimately push the peak back, which in turn would have an impact on the delivery of projects which underpin the UK’s Net Zero commitments.
Read our summary of the key findings and considerations, including a sectoral breakdown for oil and gas, nuclear, renewables and carbon capture and hydrogen as at 30 November 2023.