Individuals that work in the construction sector can look forward to job and salary increases over the next few years. These predictions are from the fact of aging buildings, deteriorating infrastructures and population growth. For those that are skilled in their trade, this indicates good job opportunities. According to information from the Bureau of Labor Statistics; the expected growth, the projected increase of salary, and wage jobs could grow by 19% through 2018. Interestingly, the positions of construction helpers, such as those helping with roofing, painting, and plasterers, is expected to drop.
Residential & Non-Residential Changes
The demand for housing is expected to increase as the eldest children of baby boomers are reaching their peak in house-buying. Senior housing and healthcare residences are also expected to grow (read the report here). Renovation of older homes is a constant source of work. Remodeling prospects are good as many older homes that are smaller are usually remodeled to offer more space to buyers. Should the trend in new home construction drop, repairs and remodeling will rise. Overall, residential construction looks promising. Contractor work in the residential area will increase.
The need for medical treatment facilities and senior living housing is predicted to grow as the population of elderly continues to climb. Just as the population of elderly is growing, so is that of the young in the South and West. There is a need for new schools in these areas. The construction of schooling continues to hinge on government budgets. While industrial plants may not see a lot of new construction and building, they may see remodeling or replacement. As society’s need for more power grows, so will heavy construction. Civil engineering construction and repair will see an increase during this time frame also. Specialty trades for remodeling and reconstruction will be on the rise.
Just as the construction sector will fluctuate, so will employment opportunities. The forecast for skilled construction workers is good. A large turnover is expected as workers leave the trade, making room for other workers. Younger workers that are skilled and experienced will fill positions as older workers retire. Positions that require more strenuous working skills normally have a higher turnover. This trend will continue. Due to the large amount of individuals entering the construction work force, there will be a big competition for those entering the field for jobs that don’t require special skills.
As with any employment sector, the economy and growth of society will predict how well the increase of construction work will be. The turnover of elderly moving into senior housing and the baby boomer children purchasing homes will affect the sector, as will government budgets for schooling and civil engineering. Retirement of seasoned, skilled workers will make room for a new generation of workers.