I know what you’re thinking: The recession took a bigger swing at U.S. construction jobs than Miley Cyrus’ wrecking ball did to her tween fans everywhere.
“I came in like a wrecking ball,
Yeah, I just closed my eyes and swung…”
But in case you find yourself thinking, “Man, we hear about health care jobs and software jobs all the time, but what about those poor folks in construction?” don’t feel too bad. Despite the fact that construction employment in the U.S. hasn’t returned to its glory days (i.e. pre-2008), we are seeing glimmers of hope.
According to new analysis from CareerBuilder and Economic Modeling Specialists International (EMSI), commercial and industrial building is outpacing residential construction, even though there’s been solid growth in remodeling and new housing developments.
But what’s the fastest growing sector over the past few years, you ask? That’d be heavy and civil engineering construction.
In terms of new building construction, residential sector jobs are expected to grow 3 percent in the time period between 2011 and the end of this year. That amounts to more than a million jobs. As you might imagine, commercial building jobs are expected to increase even faster – at a rate of 4 percent. That amounts to approximately 764,000 jobs.
What does that mean in the context of the overall economy?
“It will be awhile before employment in construction reaches levels seen during the housing bubble, but recent job growth, particularly in residential remodeling and industrial construction, signal healthier consumer confidence and private-sector investment. The industry is an important economic bellwether, as growth has positive ripple effects up and down supply chains. Fortunately, we’re seeing significant year-over-year increases in job listings on CareerBuilder across a range of titles, including laborers, building inspectors, carpenters and operating engineers.” – Matt Ferguson, CEO of CareerBuilder
Want to know more? Read the entire press release here.
Forget what you think you know about HR... it's all about to change.
Sign up to start getting exclusive content designed to empower you with the insight necessary to go from HR professional to strategic business partner.