According to ERN Mountain States, the construction spending levels in 2014 were the highest since 2008. In 2014, the construction industry spent $981 billion on projects, which is up by more than two percent from the previous year. The obvious benefit of this news is that an increase in construction spending normally indicates that the economy is getting stronger. But what does it also say about the construction industry itself?
Things Are Looking Up For 2015
Costar.com points out that, while non-residential construction slowed a little at the end of 2014, that should not prevent this spending momentum from carrying over into 2015. Each sector of the construction industry is showing significant improvement over last year and those numbers are approaching the record numbers that were being posted just prior to the Great Recession of 2008.
In 2014, 107 million square feet of office construction work was completed, which was a 32 percent increase over 2013 activity. Along with office space, warehouse building increased by 50 percent and the construction of multi-family homes went up 34 percent in 2014. All of this activity is expected to increase in 2015, which could make 2015 a record year for construction activity.
Why Will 2015 Be So Strong?
The Associated General Contractors of America suggests that activity by the federal government could enhance an already booming construction industry. The idea of investing in the maintenance and upgrade of the aging American infrastructure has been discussed for years, but little actual investment has been made to this point. The AGCA insists that if the federal government gets serious about infrastructure repair, then that will only aid in the recovery of the construction market.
Investing in infrastructure projects means repairing and replacing bridges, working on roads, and creating thousands of jobs. Many construction experts feel that, with the natural growth that seems to be occurring in the construction sector, adding in federally funded projects will significantly increase the overall construction output for 2015.
What Does It Mean For Construction Jobs?
A continued increase in construction spending means that there will be a wide range of opportunities for construction workers in 2015. Even without infrastructure investment, the increases expected in all aspects of the construction industry mean that contractors will be hiring more workers in 2015 and offering more opportunities to associated industries such as transportation and manufacturing.
The Massachusetts Contractor’s Academy is ready to help you take advantage of the need for construction supervisors in 2015. Check out our website and you will see all of the resources you need to get certified as a construction supervisor in the state of Massachusetts. We offer the most comprehensive materials to give you the path you need to construction success. Put yourself in the right position to take advantage of the increase in construction jobs in 2015 by becoming a certified construction supervisor in the state of Massachusetts. Sign up for a class right now and you can be on your way to a successful career.