Posted on Tuesday, December 6th, 2016 at 12:50 am
Interested in joining the construction industry as an executive? If yes, then check these facts about the industry before you take any decision:
1. According to Fortune, in April 2015, the construction industry accounted for 20% of the total jobs created in that month. According to government data, 223,000 new jobs were added during the month of April.
2. Between May 2015 and May 2016, California added the maximum number of construction jobs. The state added 39,600 new construction jobs. Other states include Florida (29,400), Georgia (13,400), and New York (11,000).
3. In 2014, the average salary of a construction worker was $35,750. The areas where construction workers are well paid include Chicago, Honolulu, and New York. The average salary of a construction worker in Chicago is $56,330.
4. In the same year, the average salary of a construction manager was $94,590.
5. As per the Bureau of Labor Statistics, in August 2016, employment rates in construction industry dropped by 6,000 jobs. In case of nonresidential buildings, the industry lost 8,000 jobs. In 2015, the industry had added 25,000 new jobs.
6. By the end of 2014, the subsectors in the construction industry such as Heavy & Civil Engineering construction, Construction of Buildings and Specialty Trade Contractor witnessed an increase in employment rates. Although the growth rate was lower when compared to the rates of 2007. In 2014, the employment rates in the Heavy and Civil Engineering was 7% lower than what it was in 2007. Also, the employment rates of both Specialty Trade Contractors and construction of buildings dropped over 20%. In 2009, the employment rates in the subsector Construction of Buildings plummeted by 33% and Specialty Trade Contractors was down by 31% than the rates of 2007.
7. Post-recession, employment rates in various positions in the construction industry improved. Between 2010 and2013, the employment rates of construction laborers increased by 24%. Whereas, the employment rates of power-line installers were up by 63%. Compared to these sectors, there was several other job sectors in the construction industry that didn’t recover despite the overall good performance of the construction industry. The job rates of drywall installers went down by 35% during the same period and job rates for cement masons too plummeted by 44%.
8. In 2010, unemployment rates in the construction industry were more when compared to other nonfarm industries. The unemployment rates of nonfarm industries were 11% while in the construction industry, it was 27%. By 2014, the unemployment rates dropped further. In the construction industry, unemployment rates dropped by 6.4% (as of October 2010).
Hopefully, these pointers will give you valuable insights regarding the state of the construction industry in the USA. If you are looking for construction executive jobs, get in touch with us. We are one of the best building constructions staffing solutions in Texas. Call us today at 214-935-3626.
Job seekers: Now’s a great time to get into construction