Construction Industry News: Big Things Are Happening—Jobs, Jobs & More Jobs

0
January 5, 2015 at 7:06 pm  •  Posted in Construction  •  0 Comments

In this post, you learned that calling yourself “just blue collar” is cutting yourself short. Sure, the construction industry may be undervalued, but the job prospects are aplenty.

According to the The Washington Post, the U.S. Labor Department projects an additional 1.6 million construction jobs by 2022. For electricians, the Labor Bureau expects over 114,000 new jobs over the same time period, a 20 percent increase in the 580,000 positions available in 2012.

Article Contents

Good things are coming in construction, and that bodes well for you. So stick around. In this blog post, we’ll dive into the state of the construction industry, rattle off a few projections, and decipher what this means for electrical contractors. (Thanks to The Washington Post for the great insight!)

The Construction Industry Is Ramping Up

Construction Industry Outlook

Non-residential and private residential building is on the rise, up from 2010, offsetting a reduction in government construction spending. And this report from the Bureau of Labor predicts an estimated 1.6 million new jobs in construction through to 2022.

There were over 485,000 positions for construction managers within the U.S. in 2012. And the BLS projects an additional 78,000 new positions between now and 2022.

The deeper you dig, the more good news you’ll find. According to a recent government job report, the U.S. economy added 155,000 jobs, and nearly one-fifth of those are in construction. No matter how you slice it, it’s clear that the momentum continues to build within construction.

Good News For Electrical Contractors

Without electricity, homes and businesses would be stuck in the dark ages. And without electrical contractors, who’s going to install the right parts in the right places?

Get your toolboxes ready, folks. For electricians, employment is expected to grow by 20 percent between now and 2022. That’s faster than the average for all occupations. That’s good news for seasoned electrical contractors and up-and-comers alike. (Looks like you have your work cut out for you.)

A few trends driving the need for electrical contractors:

  • Homes and businesses need more wiring, and someone needs to install that.
  • The growth within construction, coupled with the need to maintain older equipment in manufacturing plants, will require more electrical contractors.
  • In manufacturing, someone needs to install and maintain systems. (That someone could be you.)
  • The emerging field of power generation, from solar to wind, will require electrical contractors for installation.

Take-Home Lesson

Without a doubt, it’s a good time to be an electrical contractor. According to The Washington Post, the construction industry took a serious hit during the recession, but it’s on the rebound.

Over To You

What’s your take on the future of the construction industry? Join the conversation by leaving a comment below, or connecting with us on Twitter @GraybarESP or on Facebook.
 

Todd Reed, National Market ManagerAbout The Author
Todd Reed, National Market Manager

Husband to a professionally licensed architectural engineer and lighting designer (a.k.a. Lisa J. Reed) and son-in-law to an electrician, Todd knows the importance of efficiency, safety, and productivity for electrical contractors. Todd is a seasoned professional, with 5 years’ experience within a family-owned distribution business and 10 years as a Graybar employee. As National Market Manager at Graybar, Todd’s goal is to find the best products and solutions to help contractors work more efficiently, stay safe on the job, and win more productive and profitable business.

Sources & Credits
The Washington Post: The construction industry is about to take off. And jobs could follow.
Bureau of Labor Statistics: Electricians
Bureau of Labor Statistics: Construction Managers
Bureau of Labor Statistics
Bureau of Labor Statistics: Monthly Labor Review
The Washington Post: Rebound in construction hiring offers hope for economy

Leave a Reply