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Month: March 2018

Contractor Jobs 2018 Outlook

Contractor Jobs 2018 Outlook

Good news for our contractor community. In December, construction unemployment rates were down across 46 states. This was actually the country’s lowest rate of unemployment ever.

 

Compared to December 2016, the construction industry employed 250,000 more workers.

 

Why is this increase occurring? More work equals more employment. Unfortunately, a lot of the increases are due to natural disasters that happened in 2017 including hurricanes, floods, and wildfires. Contractors are needed all over the country.

 

There were 6 states with highest unemployment rates included New Mexico, Rhode Island, Alaska, Montana, Nevada, and Oregon. From lowest to highest, the top 5 states for construction unemployment rates were: Hawaii, Colorado, Massachusetts, Virginia, (Georgia, South Carolina and Texas tied for fifth).

ABC

How is the career outlook looking for general contractors? On average, there’s supposed to be a 5 % job growth increase from now till 2024.

 

Construction spending is predicted to stay strong in 2018. According to ConstructConnect, the construction forecast for 2018 is a 4.8% increase. Commercial construction (offices, garages) is expected to grow 12.4% and continue to grow through 2021. Warehouses and factories is expected to decrease starting this year by 5.6%. Retail is expected to decline around 2.8% this year. read more