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
| Jun 2, 2014
SOM unveils plans for Miami transit hub
The elevated station will be a key portal within All Aboard Florida’s rail system, the nation's only privately owned, operated, and financed rail network.
| Jun 1, 2014
Architect license upon graduation? NCARB aims to accelerate licensing process
Incorporating internship and examination requirements into university education, the regulatory organization looks to simplify and shorten the licensing process.
| May 30, 2014
MIT researchers create 'home in a box' transformable wall system for micro apartments
Dubbed CityHome, the system integrates furniture, storage, exercise equipment, lighting, office equipment, and entertainment systems into a compact wall unit.
| May 30, 2014
Riding high: L.A., Chicago working on their version of the High Line elevated park
Cities around the U.S. are taking notice of New York's highly popular High Line elevated park system. Both Chicago and Los Angeles are currently working on High Line-like projects.
| May 30, 2014
Developer will convert Dallas' storied LTV Building into mixed-use residential tower
New Orleans-based HRI Properties recently completed the purchase of one of the most storied buildings in downtown Dallas. The developer will convert the LTV Building into a mixed-use complex, with 171 hotel rooms and 186 luxury apartments.
| May 29, 2014
Turn your pen-and-paper sketches into digital drawings in seconds with this nifty gadget [video]
Funded through Kickstarter, iSketchnote uses a smart pen to instantly digitize hand-written notes and drawings.
| May 29, 2014
7 cost-effective ways to make U.S. infrastructure more resilient
Moving critical elements to higher ground and designing for longer lifespans are just some of the ways cities and governments can make infrastructure more resilient to natural disasters and climate change, writes Richard Cavallaro, President of Skanska USA Civil.
| May 29, 2014
Wood advocacy groups release 'lessons learned' report on tall wood buildings
The wood-industry advocacy group reThink Wood has released "Summary Report: Survey of International Tall Wood Buildings," with informatino from 10 mid-rise projects in Europe, Australia, and Canada.
| May 29, 2014
Five finalists, including SOM and Zaha Hadid, chosen in competition for Sweden's tallest skyscraper
In Sernecke's competition to design Sweden's tallest skyscraper, five finalists have been selected: Manuelle Gautrand Architects, Ian Simpson Architects, SOM, Wingårdhs Arkitektkontor, and Zaha Hadid Architects.
| May 29, 2014
Retail renovation trends: Omni-channel shopping, personalized experiences among top goals of new store designs
In pursuit of enhanced customer experiences, retailers are using Big Data, interactive technology, and omni-channel shopping to transform their bricks and mortar locations.