How is the construction industry faring in 2015 the United States?
Posted on Wednesday, October 28th, 2015 at 5:45 am
If you are a construction recruiter in the United States, you are aware of the latest economic trends facing the construction industry. As a construction head hunter, you should be at the top of your game and stay abreast of current economic indicators. The US construction industry still lags behind the pre-recession highs of 2008-2009.
There are many sectors though that are recording steady growth despite the challenging economic environment. The commercial and industrial building industry is recording faster growth than the residential building sector since 2011. It is estimated that jobs in the residential sector are expected to grow by about 3 per cent from 2011 till end of 2014, according to the United States government reports. The total employment in this sector is estimated to be 1,038,000 jobs. Commercial construction jobs are expected to grow at a rate of 4 per cent year to about 764,000 jobs.
The housing bubble may be a thing of the past, but many jobs are being created in the residential remodeling and industrial construction sectors. Most of this growth is due to private investment.
How is the residential construction market faring against the non- residential market?
According to independent studies, among all metro areas with a million of more residents in the United States, 4 of California’s cities make up for the growth of all national residential construction jobs. This is followed by Austin, Texas and Rochester, New York where there has been a building boom.
In 2014, there was a decline in the single-family housing construction nationally. This sector has seen a drop of about 14 percent between 2011-2014. Residential remodeling, however, has seen steady growth of about 17 per cent along with multifamily housing construction which has seen 7 per cent annual growth.
If you are a construction worker in residential construction sub industries, there has been an addition of about 32,630 jobs since 2011, to the end of 2014.
There has been an increase in non-residential construction jobs of about 6 per cent. This growth has outpaced institutional construction of buildings across the nation by about 3 per cent. In 2014, nearly 27,439 new jobs were created in the non-residential building industry.
What is the job situation in public infrastructure and specialty trade construction projects?
The other most important part of the construction industry is the infrastructure building domain that supports most construction activities. Heavy and civil engineering jobs grew by about 5 per cent from 2011 to the end of 2014. This amounted to about 939,000 jobs nationally.