The construction industry is starting to see levels of growth that it has not seen in many years as contractors are completing more projects and hiring more workers. According to the Associated General Contractors of America, contracting work has been steadily picking up through the winter and the upward trend can continue if contractors are able to find the employees they need to take on more work.
Unemployment Continues To Drop In Construction
According to ENR.com, the construction industry added another 39,000 new jobs in January 2015 and that number is still on the rise. The biggest gain came in the area of building specialty trades that saw 19,500 jobs added in January alone. In the past 12 months, the construction industry has added approximately 308,000 new jobs.
This hiring trend has helped the construction industry to lower its unemployment rate from 12.3 percent in January 2014 down to 9.8 percent in January 2015. Even though the January 2015 unemployment rate is slightly higher than the 8.3 percent unemployment rate in December 2014, it still shows a significant trend towards more construction work for 2015.
The Whole Industry Is Experiencing Growth
According to the LowesForPros.com website, the $916 billion spent on construction in 2014 represents the highest level of construction spending since 2008. Experts are projecting that residential construction in 2015 will rise another 7.7 percent to bring it to near record levels. One of the projections that has most construction experts excited is the possibility that the construction industry will see growth in all areas in 2015, which is something that has not happened since the economic collapse of 2008.
Residential construction will see growth, but commercial construction is expected to take the lead in construction spending for 2015. Hotels and office buildings are expected to see record growth in 2015 with hotel construction spending increasing by 15 percent and office complex construction going up by 12.9 percent.
Get Involved In A Construction Career Now
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With construction hiring and spending on the rise, now is the time to become a construction supervisors in the state of Massachusetts. Go online and start a course right now that will give you the background and certification you need to take advantage of the growing number of jobs available in commercial and residential construction. Do not miss out on the massive construction spending that will be taking place in 2015. Get online and get your supervisor’s certification today and put yourself on the path towards a successful career.