What is the future of construction?
Despite the recent boom in construction, many economists say the industry’s outlook is not very optimistic. They point out that jobs don’t always follow volume growth and that more than 1.2 million workers are projected to leave the industry in the next decade. This is expected to depress overall construction jobs, but some sectors are expected to grow in numbers.
In the most recent report from the Associated General Contractors of America, the company projected that employment in heavy civil engineering construction will rise as a result of growth in highway construction, bridge construction, and maintenance of existing highways. In addition, there is also expected growth in electrical power line installation.
Outreach efforts
In addition to the influx of skilled workers into the construction industry, the industry is also aiming to attract more workers from underrepresented groups. Companies are trying to make jobs more attractive to women and minorities. It will also need to work harder to keep workers safe, which makes and OSHA 10-hour and OSHA 30-hour construction certifications of great importance. In addition, the industry will need to deal with the proliferation of laws and environmental issues.
As a result of the housing market’s recent boom, construction workers in the New Mexico region are expected to enjoy a lot of new job opportunities. In particular, home improvement and repair construction is expected to grow, even as new home construction slows. This, in turn, will create new jobs for supervisors and construction managers.
In addition, there is an expected growth in commercial construction, electrical power line installation, and heavy civil engineering construction.
Construction jobs are also expected to grow in New Hampshire, where there has been a recent shortage of skilled construction laborers. In March 2017, the economy added 1,000 construction jobs, according to the state Department of Labor.
The company is also expecting job growth for electricians, heavy, and tractor-trailer truck drivers, and equipment operators. In addition, the company expects growth in specialty trades contracting, including plumbing, electrical, and heating and air conditioning mechanics.
Among those sectors expected to grow, electrical power line installers are projected to have the highest growth. Additionally, specialty trades contracting, including HVAC and refrigeration mechanics, are expected to experience growth of 20 percent.
The industry’s outlook for the next few years is expected to be impacted by a shortage of affordable housing. Additionally, the industry has become more focused on creating jobs for underrepresented groups, including minorities, women, and young people. This could also result in increased competition for certain jobs.
Aging workforce
In addition to the challenges faced by the construction industry, the aging population could also have a negative effect. The construction industry’s average retirement age is 61, and more than 1 in 5 workers are currently over the age of 55. This, in turn, will increase competition for workers. This, in turn, could dent the construction industry’s robust growth.
The Associated General Contractors of America projects that the construction industry will need to recruit a total of 590,000 new workers by 2023. This is nearly 650,000 more workers than the industry typically hires.
