The construction sector in the nine states with 50% of construction employment was up 169,000 jobs from February to September 2012, following a lost of 137,000 jobs from September 2011 to January 2012.
That’s one of the key findings of “Construction Economics: Market Conditions in Construction” (November 2012), by Gilbane Building Co., Providence, R.I. The construction management giant found several others reasons to report that construction growth was looking up:
- Construction spending for nonresidential buildings should be up 4.9% in 2012 over 2011, to $297 billion. Residential should be up 12% YOY, putting total building construction ahead 8% for the year.
- Construction starts are increasing at a slow but upward rate, while backlog duration is also increasing. As a result, contractors are feeling somewhat more comfortable passing along material cost increases.
- Overall construction spending for 2013 should be up another 4.9%, with residential building dollars up 11%.
- Top sectors: healthcare and education, accounting for 40% of nonresidential building spending.
The Gilbane report drops the other shoe with several negative findings. For one, publicly funded work will likely be down in 2013 due to the paucity of bond issues passed in the November election period: about $30 billion, compared to more than $60 billion in 2008.
Moreover, spending on public construction has declined 5% YOY and was expected to finish 2012 12% below the 2009 peak. The Gilbane report forecasts a further drop in public construction in 2013, for the fourth consecutive year.
And while there has been some recent hiring, the construction workforce has lost 2.25 million, or 29%, in recent years. “It will be many years before the entire workforce grows back to its previous level,” the Gilbane report says.
More info: info.gilbaneco.com/Portals/160261/docs/economicreportwinter2012.pdf. +
Related Stories
Higher Education | Apr 24, 2017
Small colleges face challenges — and opportunities
Moody’s Investor Service forecasts that closure rates for small institutions will triple in the coming years, and mergers will double.
Healthcare Facilities | Apr 24, 2017
Treating the whole person: Designing modern mental health facilities
Mental health issues no longer carry the stigma that they once did. Awareness campaigns and new research have helped bring our understanding of the brain—and how to design for its heath—into the 21st century.
Architects | Apr 20, 2017
Design as a business strategy: Tapping data is easier than you think
We have been preaching “good design matters” for a long time, demonstrating the connection between the physical environment and employee satisfaction, individual and team performance, and an evolving organizational culture.
Architects | Apr 20, 2017
‘Gateways to Chinatown’ project seeks the creation of a new neighborhood landmark for NYC’s Chinatown
The winning team will have $900,000 to design and implement their proposal.
Architects | Apr 19, 2017
Tour Zaha Hadid, Frank Gehry architecture with Google Earth
Google Earth’s new ‘Voyager’ feature allows people to take interactive guided tours.
Multifamily Housing | Apr 18, 2017
Three multifamily, three specialized housing projects among 14 recipients of the AIA’s 2017 Housing Awards
2017 marks the 17th year the AIA has rewarded projects and architects with the Housing Awards.
Projects | Apr 17, 2017
BD+C's 2017 Design Innovation Report
Façades that would make Dr. Seuss smile, living walls, and exterior wall space that doubles as gallery space are all represented in this year's BD+C Design Innovation Report.
Healthcare Facilities | Apr 13, 2017
The rise of human performance facilities
A new medical facility in Chicago focuses on sustaining its customers’ human performance.
Laboratories | Apr 13, 2017
How to design transformative scientific spaces? Put people first
While most labs are designed to achieve that basic functionality, a transformational lab environment prioritizes a science organization’s most valuable assets: its people.