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
| Oct 12, 2014
AIA 2030 commitment: Five years on, are we any closer to net-zero?
This year marks the fifth anniversary of the American Institute of Architects’ effort to have architecture firms voluntarily pledge net-zero energy design for all their buildings by 2030.
| Oct 10, 2014
A new memorial by Zaha Hadid in Cambodia departs from the expected
The project sees a departure from Hadid’s well-known use of concrete, fiberglass, and resin. Instead, the primary material will be timber, curved and symmetrical like the Angkor Wat and other Cambodian landmarks.
| Oct 9, 2014
Regulations, demand will accelerate revenue from zero energy buildings, according to study
A new study by Navigant Research projects that public- and private-sector efforts to lower the carbon footprint of new and renovated commercial and residential structures will boost the annual revenue generated by commercial and residential zero energy buildings over the next 20 years by 122.5%, to $1.4 trillion.
| Oct 9, 2014
More recession-postponed design projects are being resurrected, says AIA
About three quarters of the estimated 700 firms that serve as panelists on AIA’s Architectural Billings Index (ABI) had delayed or canceled major design projects in response to recessionary pressures. Nearly one-third of those firms now say they have since restarted stalled projects.
| Oct 9, 2014
Steven Holl's 'intersecting spheres' scheme for Taipei necropolis gets green light
The schematic design has been approved for the 50 000-sm Arrival Hall and Oceanic Pavilion for the Taiwan ChinPaoSan Necropolis.
| Oct 9, 2014
Beyond the bench: Meet the modern laboratory facility
Like office workers escaping from the perceived confines of cubicles, today’s scientists have been freed from the trappings of the typical lab bench, writes Perkins+Will's Bill Harris.
| Oct 8, 2014
New tools for community feedback and action
Too often, members of a community are put into a reactive position, asked for their input only when a major project is proposed. But examples of proactive civic engagement are beginning to emerge, write James Miner and Jessie Bauters.
| Oct 8, 2014
Massive ‘healthcare village’ in Nevada touted as world’s largest healthcare project
The $1.2 billion Union Village project is expected to create 12,000 permanent jobs when completed by 2024.
| Oct 8, 2014
First look: Woods Bagot unveils plans for new Christchurch Convention Center
The locally-inspired building is meant to serve as a symbol of the city's recovery from the earthquake of 2011.
| Oct 8, 2014
Denver transit project wins design-build Project of the Year honor
The Denver Union Station Transit Improvement Project is among 25 projects honored by the Design Build Institute of America for excellence in design-build project delivery.
