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
Architects | Feb 24, 2017
14 architects selected to receive the 2017 Young Architects Award
Young Architects are defined as professionals who have been licensed 10 years or fewer regardless of their age.
Architects | Feb 20, 2017
Take an architecture class taught by Frank Gehry
The starchitect will be teaching a course for MasterClass, an online education platform.
Architects | Feb 16, 2017
16 design trends from Gensler’s 2017 Design Forecast
Gensler examines how design will shape the human experience in the next year and beyond.
Architects | Feb 14, 2017
NCARB streamlines path to certification for architects
Architects without a degree from an accredited program can pursue NCARB certification through a new path.
Designers | Feb 1, 2017
Netflix design documentary series to feature Bjarke Ingels
Abstract: The Art of Design will delve into the artistic processes of various influential designers.
Architects | Jan 27, 2017
The Enterprise Rose Architectural Fellowship and Lawrence Scarpa, FAIA, honored with the 2017 Collaborative Achievement Award
Lawrence Scarpa, FAIA and the Enterprise Rose Architectural Fellowship receive the 2017 Collaborative Acievement Award.
Architects | Jan 26, 2017
Alan Greenberger, FAIA, honored with the 2017 AIA Thomas Jefferson Award
The award honors significant contributions to public architecture.
Architects | Jan 24, 2017
Politicians use architectural renderings in bid to sell Chicago’s Thompson Center
The renderings are meant to show the potential of the site located in the heart of the Chicago Loop.
Architects | Jan 23, 2017
Why corporate branded environments matter
A branded environment has the potential to create a long-lasting impression for your intended audiences.
Architects | Jan 19, 2017
Harley Ellis Devereaux merges with Deems Lewis McKinley
The combination is expected to bolster HED’s presence in northern California and the K-12 sector.