The construction industry is still recovering from the aftermath of the 2008 recession and those aftershocks are showing all throughout the industry. While there has been plenty of good news to report in the construction industry since 2013, there are still lingering signs that the recovery is not quite complete just yet. But even in the face of some challenging news, there are still plenty of reasons for construction professionals to get excited about the future of their industry.
The Numbers Slipped In March
According to the Associated General Contractors of America, the number of active construction jobs dropped by 1,000 from February 2015 to March 2015. This follows a period of 14 months where the construction industry saw employment increasing and more people going back to work. In February 2015, there were 6,345,000 active construction workers, but that fell to 6,344,000 in March.
Since March is normally a month when construction activity picks up around the country, these numbers should come as a shock to industry observers. But there has been plenty of good news in the past few months to help offset a single month of construction employment losses and most observers are indicating that the loss of jobs in March does not indicate a trend.
The Construction Industry Continues Its Strong Growth
Over the course of the past 14 months, the unemployment rate in the construction industry has fallen several points to a level of around 9.5 percent. The loss of jobs in March is challenging, but March 2015 still showed an increase of 282,000 jobs over March 2014. That is the type of incredible growth the construction industry has enjoyed lately and observers expect that trend to continue.
The Trend In Growth Is Obvious
In 2014, the National Association of Home Builders noted that the layoff rate for construction workers in March 2014 was lower than in 2013. During the recession of 2008, the construction industry shed 1.466 million jobs in reaction to the financial turmoil. But from May 2013 to May 2014, the industry added 108,000 jobs and that trend has continued on into 2015.
Growth Makes For Opportunity
The commonwealth of Massachusetts is one of those parts of the country where the most significant growth in residential construction has been occurring. The trend towards hiring hundreds of thousands of construction workers means that there are opportunities for experienced workers to move into supervisory positions. With revenues and opportunities growing in the construction industry, Massachusetts professionals need to take advantage of the growth and move their careers forward.
The Massachusetts Contractors Academy can help you to take advantage of the continues growth in the construction industry by helping you to get your Massachusetts contractor supervisor’s license. Sign up for one of our classes right now and we will take you through all of the class work you need to take your licensing test. You do not pay until you complete the course, and passing the test means that you can take your career in a brand new direction.
George N Root III is a professional freelance writer who has expertise in topics such as Internet marketing, business, advertising, and personal finance.