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An Uncertain Outlook for 2013
By: CareerCast.com
Construction hiring will be modest with the majority of firms expecting to add 15 or fewer workers during the course of the year, Associated General Contractors CEO Stephen Sandherr said in a conference call with the media. The ACG published results of a survey on Monday exploring employment outlook for 2013. Among its findings are that 31 percent of contractors said they planned to add staff, while 9 percent planned staff cuts. “While the outlook for the construction industry appears to be heading in the right direction for 2013, many firms are still grappling with significant economic headwinds,” Sandherr said. ... more
Construction Holds Steady Despite Government Shutdown
By: CareerCast.com
The government shutdown slowed employment, but construction weathered the storm—a positive sign for a sector still catching up from losses sustained during the recession. The September jobs report showed that some higher-paying industries added jobs at a healthy pace. Construction companies, for example, added 20,000. Josh Feinman, global chief economist at Deutsche Asset and Wealth Management says: "The labor market is continuing to create jobs. ...It's just frustratingly slow." Construction hiring has improved every month since April 2013, the Bureau of Labor Statistics reports . CONTINUE READING AT SEATTLE TIMESmore
More Construction Jobs Leading To Some Worker Shortages
By: CareerCast.com
In the past year, construction hiring increased in 61% of US metropolitan statistical areas, according to a new analysis of federal employment data released by the Associated General Contractors of America. Data from the Bureau of Labor Statistics (BLS) states that last month, 12,000 jobs were added in this sector, with employment gains coming mostly from residential specialty trade contractors. Over the year, 231,000 jobs have been added in construction. Despite rising employment, there remains a shortage of workers. Officials of the Associated General Contractors of America said that "as firms expand their payrolls, many are finding a limited supply ... more
U.S. Economy Gets A Boost from Housing
By: CareerCast.com
The U.S. economy is a study in contrasts. The housing, banking and auto industries are surging back to health and that has helped push the stock market to a five-year peak. Higher prices for homes and stocks tend to make people feel wealthier and spend more. Yet unemployment remains high and hiring modest. The end of a Social Security tax cut is shrinking already flat pay. Federal budget fights have put businesses and consumers on edge. Balanced between those tailwinds and headwinds, the economy is struggling to accelerate. By the end of this year, though, many analysts think the tailwinds ... more
Construction Industry Optimism In 2014
By: CareerCast.com
According to KPMG International’s 2013 Global Construction Survey: Ready for the Next Big Wave?, a majority of companies in the global engineering and construction sector have fresh confidence in the growth prospects for the industry. The Americas have the highest confidence for growth with 90 percent forecasting margins as stable or increasing by more than 2 percent. By contrast, 28 percent of companies in the AsPac region see margins decreasing below 2 percent. In the Americas, privatization efforts via public-private partnerships (48 percent) ranked as the second-leading driver for growth behind government infrastructure plans (58 percent) followed by access to ... more
Construction Jobs Available, But Right Skills Are Required
By: CareerCast.com
The rapid hiring that made 2014 a stellar year for job gains is showing no sign of slowing down. However, filling openings in some fields is not easy. This is especially true for construction. The unemployed don’t have the right skills for the jobs that are available. This view assumes that there are millions of unemployed construction workers or factory employees, for example, who aren’t able to find work in growing sectors such as health care. There are some highly-skilled jobs in software development or advanced manufacturing that do appear to be hard to fill. But some economists point out ... more
Avoid Apartment Construction While Other Sectors Hold Steady
By: CareerCast.com
U.S. homebuilders began work at a slower pace in January than in December. But all of the drop occurred in the volatile area of apartment construction, which sank 24 percent. By contrast, the rate of single-family homebuilding rose 0.8 percent. Even with the overall decline, the pace of home construction in January was the third-highest since 2008 and was evidence of continued strengthening in residential real estate. And in an encouraging sign for the rest of the year, applications for building permits, a signal of future construction, topped December's rate. Applications for permits are at their highest point since mid-2008. ... more
Construction Growth A Positive For 2014
By: CareerCast.com
Expectations are rising for a stronger U.S. economy in 2014 after reports Thursday showed solid growth in manufacturing and construction spending at the end of last year. construction spending rose 1 percent in November to a seasonally adjusted annual rate of $934.4 billion, the Commerce Department said. That's the highest in more than four years. Spending on home and apartment construction rose 1.9 percent to the highest level since June 2008. And commercial project spending increased 2.7 percent, led by office, communication and transportation projects. The reports add to other hopeful signs that 2014 could mark a turning point for ... more
Construction Jobs Weathering Winter Flurry Points To Sunny Spring Hiring
By: CareerCast.com
Cold weather can have negative implications for construction employment, and this winter has been especially cold for much of the Midwest and Eastern United States. However, the U.S. Bureau of Labor Statistics (BLS) reports that construction hiring nationwide increased in February 2015. That's the 14th consecutive month of growth in an industry hit especially hard by the economic recession of 2008. And, continuing the upward trend amid less than ideal circumstances during a cold winter points to even more gains in the spring and summer. The construction industry saw its most substantial hiring gains in 2014 between March and May. ... more
Gen Y Construction Jobs in the Housing Recovery
By: CareerCast.com
Builders who worry about the trickle of younger adults coming into the housing industry need to do a better job of convincing high school and college students that residential development and construction are offering employment opportunities again after several years of deep layoffs and business failures among home-building companies. That’s even true for students enrolled in secondary and collegiate construction management programs—presumably where the next generation of leaders for the housing sector should be emerging. A good number of these students still gravitate toward careers in commercial or industrial architecture and construction, because that’s where the economy and the media ... more