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
High-rise Construction | Jul 28, 2015
Work begins on KPF's 'flared silhouette' tower in Manhattan
The 62-story, 157-unit luxury condo tower widens at the 40th floor, resulting in a gently flared silhouette, accented by a sculpted crown.
Museums | Jul 28, 2015
MUST SEE: Zaha Hadid's latest museum project is built into a mountain
The museum, dedicated to legendary mountaineer Reinhold Messner, is embedded within Mount Kronplatz in northern Italy.
Smart Buildings | Jul 27, 2015
Perkins+Will imagines new opportunity for Atlantic City
The architecture giant believes it has a solution that could put Atlantic City’s existing infrastructure to good use—by turning the Jersey Shore city into a research center for climate change and coastal resiliency.
Retail Centers | Jul 27, 2015
Fish-shaped shopping mall designed for odd plot of land in China
The mall, in Qinshui, a city in China’s Shanxi province, will fit within the 250x30-meter dimensions surrounded by parallel roads and two converging rivers.
Performing Arts Centers | Jul 27, 2015
Vox Populi: Netherlands municipality turns to public vote to select design for new theater
UNStudio’s Theatre on the Parade received nearly three-fifths of votes cast in contest between two finalists.
Multifamily Housing | Jul 27, 2015
Miami developers are designing luxury housing to cater to out-of-town buyers and renters
The Miami Herald reports on several new multifamily projects, including the Paramount Miami Worldcenter, whose homes include maid’s rooms, larger terraces, boutique-size closets, and guest suites.
Architects | Jul 23, 2015
CTBUH recognizes Parkroyal on Pickering as Urban Habitat Award winner
The Singapore hotel has green space galore
Sports and Recreational Facilities | Jul 23, 2015
Japan announces new plan for Olympic Stadium
The country moves on from Zaha Hadid Architects, creators of the original stadium design scrapped last week.
Green | Jul 23, 2015
NASA: U.S. headed for worst droughts in a millennium
Data from NASA shows carbon emissions could be the driving force behind devastating water shortages and record droughts in the western U.S.
Airports | Jul 22, 2015
MUST SEE: JFK airport taps Gensler to design terminal for animals
Pets can enjoy luxurious spa and grooming services before being transported directly to their flight from the terminal.