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Laid-Off Construction Workers Switch Fields, Industry Now Seeing Shortages

Posted on Thursday, November 29th, 2012 at 5:03 pm    

From January 2007 until last year, the construction industry laid off nearly 2.2 million workers and now that the home-building construction market along with commercial building sector are beginning to strengthen, the industry is facing an issue of finding workers.

Contractors in Texas, Iowa, Florida, and Arizona are feeling the affects of this shortage more than other states, but it is expected to spread across the U.S. over the next few years.

During the downturn in the construction industry, thousands of workers moved states to find work, retired or left the construction industry and found new fields to work in. Now that the industry is beginning to pick back up, some areas have been left with very few workers to help with the recent activity.

Many construction workers changed to positions such as truck driving, factory work, or oil rig work after the massive layoffs. The fact that the Baby Boomer generation is reaching the age of retirement and recent high school graduates are highly encouraged to go to college instead of entering the construction field are other reasons that the supply and demand gap exists.

This year, the number of building permit applications that have been filed for homes and apartment complexes has increased by nearly 31 percent over last year, according to the Census Bureau. As of September, the total construction spending is also up by 14 percent from February 2011, when the market hit an all-time low.

New Home Construction Climbs to Four-Year High

Posted on Tuesday, November 20th, 2012 at 9:32 pm    

Construction on new homes in the U.S. has climbed to a four-year high during the month of October. According to officials with Bloomberg, these numbers are much higher than the Commerce Department estimated.

Statistics show that the housing starts raised 3.6 percent to an 894,000 annual rate. The number of single-family homes has also increased to the highest rate of four years.

Economists have said that these numbers show signs that the housing industry is improving and that this will help the overall US economy.

It has been thought that a lower risk in falling property values as well as record low mortgage rates, may be the reason for the decline. There is no longer a large supply with the new increase in demand. Economists have stated that this is a good sign for the construction industry.

With an increase in housing construction, companies may be able to expand their business and create new jobs for the industry. The construction headhunters at Construction Hunters know the importance of leadership in a construction firm and are here to help you find the best fit for your business. We use a confidential search in order to find the most talented people in the industry.  Contact us today in order to discuss the options available to you.

Construction spending sees increase in September

Posted on Thursday, November 1st, 2012 at 3:39 pm    

The month of September showed the largest increase in construction spending over the past three months, despite decreases seen in business and government spending. The spending increased by 0.6 percent, raising the annual rate to $851.6,  according to the Commerce Department.

For the first time since the housing market slumped in 2005, residential construction is expected to help the economic growth of the country. The housing market is just now beginning to show improvement, and residential projects rose nearly 2.8 percent.

Although residential construction is seeing an increase, private spending on nonresidential projects dropped by 0.1 percent. Public construction spending also followed this trend and dropped by nearly 0.8 percent, making this the third month in a row that this area has experienced a decrease. The decrease in projects funded by the federal government could be the reason for the overall construction spending decline.

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Is the construction industry on the way to recovery in 2013?

Posted on Thursday, June 21st, 2012 at 4:36 pm    

A national online conference with the Associated Builders and Contractors have stated that they are unsure whether or not the construction industry will make a recovery in 2013.

The chief economist for ABC has stated that he is not convinced that the industry will recover by 2013. He went on to state that the construction industry lost more jobs in the recession than any other industry.

Since December 2007, the construction industry has lost more than five million jobs. He continued to add that the industry has added more jobs recently and think that they will continue to experience some growth in upcoming months.

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