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
| Jan 15, 2015
A reconstructed Taliesin West is the largest Frank Lloyd Wright LEGO Model [slideshow]
Artist Adam Reed Tucker used 180,000 LEGO pieces and 420 hours of work to recreate Frank Lloyd Wright's Taliesin West campus.
| Jan 15, 2015
Construction materials prices fall in November
Construction input prices dipped 1.4% during the final month of 2014 and are down nearly 1% on a year-over-year basis, according to the Jan. 15 producer price index release from the U.S. Department of Labor.
| Jan 15, 2015
Libeskind unveils 'zig zag' plan for recreational center near Vilnius ski area
Perched on the highest peak between Vilnius' historic quarter and downtown, the Vilnius Beacon will be a hub for visiting skiers and outdoor enthusiasts.
| Jan 15, 2015
Illustrations capture essence of Aalto, Ando, Hadid, Foster, and other famous architects [slideshow]
The illustrations are Federico Babina's abstract interpretations of the styles of famous architects, from Frank Lloyd Wright to Bjarke Ingels.
| Jan 14, 2015
10 change management practices that can ease workplace moves
No matter the level of complexity, workplace change can be a challenge for your client's employees. VOA's Angie Lee breaks down the process of moving offices as efficiently as possible, from creating a "change team" to hosting hard-hat tours.
| Jan 13, 2015
Steven Holl unveils design for $450 million redevelopment of Houston's Museum of Fine Arts
Holl designed the campus’ north side to be a pedestrian-centered cultural hub on a lively landscape with ample underground parking.
| Jan 12, 2015
23 projects win AIA's highest architecture award
Bjarke Ingels' Danish Maritime Museum and William Rawn's Cambridge Public Library are among the winning projects.
| Jan 9, 2015
Santiago Calatrava talks with BBC about St. Nicholas Church on Ground Zero
Calatrava reveals that he wanted to retain the “tiny home” feel of the original church building that was destroyed with the twin towers on 9/11.
| Jan 9, 2015
Nonresidential construction hiring surges in December 2014
The U.S. construction industry added 48,000 jobs in December, including 22,800 jobs in nonresidential construction, according to the Bureau of Labor Statistics preliminary estimate released Jan. 9.
| Jan 9, 2015
10 surprising lessons Perkins+Will has learned about workplace projects
P+W's Janice Barnes shares some of most unexpected lessons from her firm's work on office design projects, including the importance of post-occupancy evaluations and having a cohesive transition strategy for workers.
