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
| Aug 11, 2010
AIA report estimates up to 270,000 construction industry jobs could be created if the American Clean Energy Security Act is passed
With the encouragement of Senate majority leader Harry Reid (D-NV), the American Institute of Architects (AIA) conducted a study to determine how many jobs in the design and construction industry could be created if the American Clean Energy Security Act (H.R. 2454; also known as the Waxman-Markey Bill) is enacted.
| Aug 11, 2010
Architect Michael Graves to be inducted into the N.J. Hall of Fame
Architect Michael Graves of Princeton, N.J., being inducted into the N.J. Hall of Fame.
| Aug 11, 2010
Modest rebound in Architecture Billings Index
Following a drop of nearly three points, the Architecture Billings Index (ABI) nudged up almost two points in February. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending.
| Aug 11, 2010
Architecture firms NBBJ and Chan Krieger Sieniewicz announce merger
NBBJ, a global architecture and design firm, and Chan Krieger Sieniewicz, internationally-known for urban design and architecture excellence, announced a merger of the two firms.
| Aug 11, 2010
Nation's first set of green building model codes and standards announced
The International Code Council (ICC), the American Society of Heating, Refrigerating and Air Conditioning Engineers (ASHRAE), the U.S. Green Building Council (USGBC), and the Illuminating Engineering Society of North America (IES) announce the launch of the International Green Construction Code (IGCC), representing the merger of two national efforts to develop adoptable and enforceable green building codes.
| Aug 11, 2010
David Rockwell unveils set for upcoming Oscar show
The Academy of Motion Picture Arts and Sciences and 82nd Academy Awards® production designer David Rockwell unveiled the set for the upcoming Oscar show.
| Aug 11, 2010
More construction firms likely to perform stimulus-funded work in 2010 as funding expands beyond transportation programs
Stimulus funded infrastructure projects are saving and creating more direct construction jobs than initially estimated, according to a new analysis of federal data released today by the Associated General Contractors of America. The analysis also found that more contractors are likely to perform stimulus funded work this year as work starts on many of the non-transportation projects funded in the initial package.
Museums | Aug 11, 2010
Design guidelines for museums, archives, and art storage facilities
This column diagnoses the three most common moisture challenges with museums, archives, and art storage facilities and provides design guidance on how to avoid them.
| Aug 11, 2010
Broadway-style theater headed to Kentucky
One of Kentucky's largest performing arts venues should open in 2011—that's when construction is expected to wrap up on Eastern Kentucky University's Business & Technology Center for Performing Arts. The 93,000-sf Broadway-caliber theater will seat 2,000 audience members and have a 60×24-foot stage proscenium and a fly loft.
