Despite global improvements in technology, coupled with a booming population, Australia’s construction industry is less productive today than it was three decades ago—and it’s costing the economy as much as $47 billion a year.

The latest report from the Australian Constructors Association, Disrupt or Die, has shed light on the sector’s serious weaknesses, labelling a shortage of workers as a major threat.

Over the 31 years since 1990—when Australia was home to almost 9 million fewer people—the industry’s productivity has dropped 1.8 per cent.