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
| Apr 7, 2014
40 Under 40 winners: Meet the architects
Of the up-and-coming AEC professionals to be named 40 Under 40 winners by the editors of Building Design+Construction, 21 make their living in the architecture profession.
| Apr 4, 2014
$25 million Orion Jet Center designed by SchenkelShultz now open
As the centerpiece of the 45-acre campus, which is its first phase of a planned 215-acre mixed-use development, the 18,000 square foot executive terminal facility offers spacious passenger areas, administrative space, an executive suite, rental car kiosk, catering and a cafe.
| Apr 3, 2014
Security, accountability, and cloud access: Can you really have it all?
I’ve heard countless stories of conversations between project engineers and IT professionals who can’t come to an agreement on the level of security needed to protect their data while making it more accessible—not only externally, but also internally.
| Apr 2, 2014
The new model of healthcare facility management
A growing number of healthcare organizations are moving to an integrated real estate model in an effort to better manage costs, respond to regulatory requirements, and support changes in patient care delivery.
| Apr 2, 2014
8 tips for avoiding thermal bridges in window applications
Aligning thermal breaks and applying air barriers are among the top design and installation tricks recommended by building enclosure experts.
| Apr 2, 2014
Check out the stunning research facility just named 2014 Lab of the Year [slideshow]
NREL's Energy Systems Integration Facility takes top honors in R&D Magazine's 48th annual lab design awards.
| Apr 1, 2014
The risks of mismatched fire-rated assemblies
Mismatched fire-rated glass and framing happens more often than you think. Failing to confirm that the tested and listed performance capabilities of the framing system match those of the glazing can create a financial nightmare for the entire building team.
| Apr 1, 2014
Planned global commerce center breaks ground near Phoenix
When completed, PhoenixMart will be one of the largest single-level trade centers in the U.S.
| Apr 1, 2014
Paints, coatings and sealants: Choosing products and procedures for best performance
This course covers life cycle assessment, color selection, emissions, durability, resilience, corrosion resistance, specification standards, and other critical aspects of choosing coatings for interior and exterior walls, ceilings, and roofs.
| Mar 31, 2014
Extreme conversion: Soaring Canadian church transformed into contemporary library
Even before the St. Denys-du-Plateau Church was converted into a library, it was an unusual building, with a towering nave designed to mimic a huge tent inflated by the wind.
