SO MUCH WINNING YOU’RE GOING TO GET BORED WITH WINNING: Will Trump’s Infrastructure Plan Create Too Many Jobs?

With college debt rising, less-costly technical schools are an especially attractive option. As the older generation of construction workers and craftsman retire, the urgency of finding a solution to this problem will increase. Moreover, if we see a rise in new home construction in the suburbs, the crunch will become even tighter.

Although we’re skeptical of some of the dire reports that are published by trade groups like the American Society of Civil Engineers, America’s infrastructure clearly needs repairs. Bridges and tunnels and roads and airports all would benefit from major capital investments. But one of the concerns to keep in mind as we prepare for four years of construction is that any massive government effort, particularly at a time when demand isn’t so depressed, could crowd out private activity. If all the capable skilled labor is being put on government projects (and, thanks to current federal law, paid at prevailing union wages in big cities), there won’t be many people left to build houses and private-sector buildings. Those who are left will command high salaries, which sounds like a good thing but could also discourage private firms from even building at all.

As Congress and the president-elect prepare for a big infrastructure push, they would do well to keep these issues in mind. Construction is a highly cyclical industry, and the federal government is preparing to get involved at a time when labor supply is low and private sector demand is rising. To avoid a major shortage, more skilled laborers will have to enter the market.

Too many jobs, wages too high. It’s a nightmare.