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Construction is a high-earning industry and a large and growing one. There is currently a construction boom, but it is starting to slow; however, it is not stagnant. There is growth in single-family home developments, and home-improvement projects. More women and minorities are getting jobs in this industry and more new, innovative technologies are being used. There is still a labor shortage, and skilled contractors are needed.

For this article we wanted to share more statistics to show you the current state of the construction industry and where it’s headed in the future:

1. Construction in the Western United States was projected to grow between 7% between 2017 and 2018.
2. 20% of U.S. construction occurs in New York, Dallas, Houston, Los Angeles, and Washington.
3. 50% of all construction in the United Cities is expected to occur in only 20 cities over the next five years.
4. New York City is the most expensive city to build in in 2017; it costs $3,900 per square meter to build.
5. The top five states that rent equipment for construction are California, Texas, Florida, Illinois, and New York.
6. Globally, 2.3 million people die due to work-related accidents or diseases every year.
7. About 64% on-the-job fatalities in construction are due to four types of hazards: falls, electrocution, being struck by an object, and being crushed.
8. Falls account for 39% of all construction deaths.
9. In 2016, 1034 workplace fatalities took place in the United States.
10. About 651,279 deaths each year are reported around the world from diseases related to hazardous materials in construction.
11. 54% of construction companies have R&D departments for new technology.
12. Of the companies with R&D departments, 16% have more than five people in their department.
13. 37% of construction firms are experimenting with drones, which has grown 10% from 2016.
14. 57% of companies are considering job-site employee tracking.
15. Only 11% of general contractors use wearable technology.
16. Only 24% of construction employees are “very comfortable” with new technology.

The construction industry is growing with new job opportunities and technology. As a younger worker, you can take charge of the new technologies, bring them into the workplace, and make the entire team comfortable using them to change the nature of the workplace dynamic for the better.

Ready for a career as a contractor? You will need a contractor’s license to work legally in most states. We are a Florida contractor licensing company. We help contractors across the United States get their contractor license. We make the process smooth! read more