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
BIM and Information Technology | Apr 3, 2015
French startup develops drone camera that overlays video with 3D images
The new drones can capture video and overlay the shot results with 3D images and augmented reality remotely.
Libraries | Apr 2, 2015
6 award-winning libraries showcase next-gen design strategies
The new Cedar Rapids Public Library and the restored Slover Library in Norfolk, Va., are among six breakthrough projects honored with 2015 AIA/ALA Library Building Awards.
Contractors | Apr 1, 2015
ABC: Nonresidential construction spending flat in February
The Associated Builders and Contractors forecasts a robust nonresidential construction spending recovery in 2015, despite an underwhelming start.
Office Buildings | Apr 1, 2015
IBM's supercomputer Watson finds new home in Manhattan's Silicon Alley
The new headquarters for the former Jeopardy champ was conceived as a showcase for Watson’s capabilities, and as an inspirational workspace for Millennials and idea generators of all ages.
Sponsored | Fire and Life Safety | Apr 1, 2015
Radiant Heat: The Invisible Killer
Where there’s smoke, there’s fire. Where there’s fire, there’s the deadly threat of radiant heat.
Modular Building | Mar 31, 2015
Phoenix apartment complex will be made from recycled shipping containers
The eight-unit complex, called Containers on Grand, was inspired by the need for affordable and sustainable housing near the city's core.
Cultural Facilities | Mar 31, 2015
Pratt Institute to offer first-ever degree in placemaking
As part of its new Urban Placemaking and Management degree, Pratt will offer courses on topics such as "the history and theory of public space" and the "economics of place."
Architects | Mar 30, 2015
Q+A with Arthur Gensler, and advice from his new book
"Designers need to be trained to solve their clients’ problems through design while leading their own firms to become sustainable practices," says Gensler.
Structural Materials | Mar 30, 2015
12 projects earn structural steel industry's top building award
Calatrava's soaring Innovation Science and Technology Building at Florida Polytechnic University is among the 12 projects honored by the American Institute of Steel Construction in the 2015 IDEAS² awards competition.
Cultural Facilities | Mar 30, 2015
Designs released for new entertainment center in Lubbock, Texas
Amenities of the facility include a performance venue that seats 2,220, a smaller one that seats 425, a 6,000-sf multipurpose room, and a bistro café.
