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
Giants 400 | Aug 26, 2021
2021 University Giants: Top architecture, engineering, and construction firms in the higher education sector
Gensler, AECOM, Turner Construction, and CannonDesign head BD+C's rankings of the nation's largest university sector architecture, engineering, and construction firms, as reported in the 2021 Giants 400 Report.
Giants 400 | Aug 26, 2021
2021 Data Center Giants: Top architecture, engineering, and construction firms in the U.S. data center facilities sector
Corgan, Holder Construction, Jacobs, and Whiting-Turner top BD+C's rankings of the nation's largest data center facilities sector architecture, engineering, and construction firms, as reported in the 2021 Giants 400 Report.
Hotel Facilities | Aug 26, 2021
Building hotels with modules, with citizenM's Menno Hilberts
In this exclusive interview for HorizonTV, Menno Hilberts, Managing Director of Project Management with hotelier citizenM, explains how the company is employing modular construction to help double its presence in the U.S.
Giants 400 | Aug 25, 2021
Top 40 Engineering/Architecture Firms for 2021
Jacobs, AECOM, Burns & McDonnell, and Alfa Tech top the rankings of the nation's largest engineering architecture (EA) firms for nonresidential buildings and multifamily buildings work, as reported in Building Design+Construction's 2021 Giants 400 Report.
Giants 400 | Aug 25, 2021
Top 95 Architecture/Engineering Firms for 2021
Stantec, HDR, HOK, and SOM top the rankings of the nation's largest architecture engineering (AE) firms for nonresidential and multifamily buildings work, as reported in Building Design+Construction's 2021 Giants 400 Report.
Giants 400 | Aug 25, 2021
Top 160 Architecture Firms for 2021
Gensler, Perkins and Will, HKS, and Perkins Eastman top the rankings of the nation's largest architecture firms for nonresidential and multifamily buildings work, as reported in Building Design+Construction's 2021 Giants 400 Report.
Sports and Recreational Facilities | Aug 25, 2021
The rise of entertainment districts and the inside-out stadium
Fiserv Forum, home to the 2021 NBA Champion Milwaukee Bucks, proved that the design of the space outside a stadium is just as important as inside.
Architects | Aug 24, 2021
AIA’s Compensation Report reveals how architecture firms weathered the pandemic
According to the report, architecture firms lost 16,000 positions between February and their low in July of 2020.
Architects | Aug 19, 2021
BD+C Events
Building Design+Construction's annual events include the Women in Design+Construction conference and the ProConnect meeting series.
Architects | Aug 19, 2021
Quattrocchi Kwok Architects marks 35 years in business with commitment to social justice
QKA, the largest architecture firm in the North Bay area of San Francisco, has received the JUST 2.0 Social Transparency Label from the International Living Future Institute.
