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
| Sep 10, 2014
Ranked: Top transit facility sector AEC firms [2014 Giants 300 Report]
Leo A Daly, URS, and Skanska head BD+C's rankings of the largest transit facility sector design and construction firms, based on the 2014 Giants 300 Report.
| Sep 10, 2014
Must See: Shape-shifting architecture that responds to heat
Students in Barcelona have created a composite material using shape memory polymers that can deform and return to their original state when activated by cues like heat, humidity, and light.
| Sep 10, 2014
Lessons for the shore: Bolstering resilience of the built environment
Nearly 32 million people, or 28% of the East Coast's population, live in areas lying within a mile of a shore line. The good news is that municipalities are starting to take action, writes Sasaki Associates.
| Sep 9, 2014
Using Facebook to transform workplace design
As part of our ongoing studies of how building design influences human behavior in today’s social media-driven world, HOK’s workplace strategists had an idea: Leverage the power of social media to collect data about how people feel about their workplaces and the type of spaces they need to succeed.
| Sep 9, 2014
Ranked: Top religious sector AEC firms [2014 Giants 300 Report]
Brasfield & Gorrie, Gensler, and Jacobs top BD+C's rankings of the nation's largest religious sector design and construction firms, as reported in the 2014 Giants 300 Report.
| Sep 9, 2014
Take a look at the hardhat of the future
A Los Angeles-based startup added augmented reality technology to a hardhat, creating a smart helmet.
| Sep 9, 2014
Frank Lloyd Wright's Annie Pfeiffer Chapel brought back to life using 3D printing
Restoration of the Frank Lloyd Wright-designed chapel was made possible (and affordable) thanks to 3D printing.
| Sep 8, 2014
First Look: Foster + Partners, Fernando Romero win competition for Mexico City's newest international airport
Designed to be the world’s most sustainable airport, the plan uses a single, compact terminal scheme in lieu of a cluster of buildings, offering shorter walking distances and fewer level changes, and eliminating the need for trains and tunnels.
| Sep 8, 2014
Trimble acquires Gehry Technologies, aims to create tools for linking office and job site
Trimble and Frank Gehry announced that they have entered into a strategic alliance to collaborate to transform the construction industry by further connecting the office to on-site construction technologies. As part of the alliance, Trimble has acquired Gehry Technologies.
| Sep 7, 2014
Ranked: Top state government sector AEC firms [2014 Giants 300 Report]
PCL Construction, Stantec, and AECOM head BD+C's rankings of the nation's largest state government design and construction firms, as reported in the 2014 Giants 300 Report.
