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Construction Appreciation Week - Part Two
9/21/2018 5:30:30 PM
This week we continue to focus on the construction industry and show appreciation for all that our team does. It is easy to forget how construction affects our daily lives. From the buildings we live and work in to the roads we use for transportation, construction workers make our lifestyle possible. It is important to encourage those in the industry and help educate others on the opportunities available within construction.

Check out some of these impressive statistics from the Construction Productivity Blog:

  • Construction is 14.7% of global GDP—up from 12.4% in 2014. [GCP]
  • $1.18 trillion is the worth of U.S. construction industry in 2017. [Capital Plus]
  • $57 trillion in infrastructure is needed by 2030 to keep up with global GDP growth. [McKinsey Global Institute]
  • 1.2 million new housing units planned annually in the U.S. — up from 583,000 in 2009. [Census Bureau]
  • Estimated 85% growth in the volume of construction output to $15.5 trillion by 2030. [PWC]
  • 3.6% is the estimated growth of global construction in 2018. [IMF]
  • Estimated 11% increase in U.S. 2018 commercial construction. [FMI]
  • 72% of construction CEOs expect to increase revenue in 2018. [ENR]
  • 93% of contractors expect to see equal or greater profit margins in 2018. [CCI]
  • 99% of contractors feel confident for the demand for commercial construction in 2018. [CCI]
  • 58% of owners said they’ve used or plan to use design-build, moving away from traditional design-bid-build. [FMI]
  • 6% increase in modular construction by 2022 is predicted. [UA Builders]

The following is from the same article and highlights workforce statistics in construction:

  • In 2017, 210,000 jobs were added in the industry, a 35% increase from 2016. [The Bureau of Labor Statistics]
  • More than 180 million people work in construction around the world. [WEIGO]
  • 42 years old is the average age of a U.S. construction worker, one year older than the average age of the workforce. [NAHB]
  • Construction accounts for only 4% of workers but 21% of workplace-related deaths in the U.S. [The Bureau of Labor Statistics]
  • 16% increase in U.S. construction workers deaths in 2015 over 2012. [The Bureau of Labor Statistics]
  • Only 13% of construction firms are women owned. [Womenable]
  • 57% of contractors expect to hire more workers in the next 6 months. [CCI]
  • Only 9.1% of the construction workforce is female. [NAWIC]

One Team. One Vision. One Goal. – Everyone Goes Home Safe!

Resource:

https://blog.plangrid.com/2018/08/construction-industry-statistics-to-improve-productiv
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