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Mitigation Strategies for Gulf Coast Labor Shortage Conundrum

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by Vignesh Mohan
30 December 2014

The shale gas boom has created huge opportunities in the global chemical industry. The abundant availability and low production cost in the US is being capitalized by most of the global chemical firms. The natural gas price in US is just half of what it is in the Europe. This conducive business environment for shale gas and allied petrochemical industries is triggering huge investments (around USD 71.7 billion) from 2010 ? 2020, with the peak activity levels expected over the next 2 to 3 years. The industry reports estimate that the US construction industry will have a potential labor shortage of about 2 million craftsmen during the construction peak. This article will capture the labor shortage & skill gap problem and also highlight strategies that can be adopted to effectively manage the demand for skilled labor along the US Gulf Coast.

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