The construction industry has made a comeback, thanks to the economy growing stronger. When the housing market reached all time lows in 2012, many construction workers had to search for a new line of work. However, it has gradually made a resurgence and as of 2016 is overall pretty solid. One problem, though, is that the skilled laborers that left for a new career a few years ago have been hard to come by.
According to this article from Construction Dive writer Emily Peiffer, the opportunities for construction employment are booming:
Construction employment climbs to 8-year high as firms add 11K jobs in October | Construction Dive
- The construction industry added 11,000 jobs in October, the Bureau of Labor Statistics reported Friday. October’s total construction employment of 6,679,000 marked the highest level since December 2008.
- Within the industry, the residential sector added 4,500 jobs last month, while the nonresidential sector added 6,700 positions, according to the Associated General Contractors of America.
- Year-over-year construction employment was 3.0% higher last month than in October 2015. Average hourly earnings in construction rose 3.2% in the past year to $28.39 in October — almost 10% higher than the average across all private sector industries.
Las Vegas was hit hard in the housing recession. The number of construction jobs decreased by around 50%. In this video by a Las Vegas local news agency, it interviews a home builder and states that the construction recovery for the area is very strong:
This next article by the Associated General Contractors (AGC) provides stats are interesting as far as what states are adding the most construction jobs and where employment is declining. AGC is an association for the construction industry that provides education and resources for its members. It also compiles statistics concerning the field of work:
CONSTRUCTION EMPLOYMENT RISES IN 42 STATES AND THE DISTRICT OF COLUMBIA OVER LATEST 12 MONTHS, WHILE ONLY 23 STATES ADD JOBS FROM MARCH TO APRIL
California added the most construction jobs (49,800 jobs, 7.0 percent) between April 2015 and April 2016. Other states adding a high number of new construction jobs for the past 12 months include Florida (30,100 jobs, 7.1 percent), Massachusetts (13,900 jobs, 10.2 percent) and Georgia (13,600 jobs, 8.2 percent). Hawaii added the highest percentage of new construction jobs during the past year (18.4 percent, 6,200 jobs), followed by Iowa (13.5 percent, 10,600 jobs), Massachusetts and Nevada (10.2 percent, 6,900 jobs).
North Dakota lost the highest percent and total number of construction jobs (-12.9 percent, -4,600 jobs). Other states that lost jobs for the year include Wyoming (-10.0 percent, -2,400 jobs), Alaska (-9.7 percent, -1,800 jobs), Kansas (-5.1 percent, -3,100 jobs), Kentucky (-1.1 percent, -800 jobs) and West Virginia (-0.9 percent, -300 jobs). Construction employment was unchanged for the year in New Mexico and Mississippi.
Always good to hear that our economy is going in the right direction. The states that went down are most likely due to local and regional situations such as North Dakota’s oil boom and subsequent bust. No matter, overall the industry is strong in most states and the future looks bright.