Upswing In Construction Jobs Inspires Confidence
Among other indicators that we are have the housing recession fully behind us in an increase in the availability of construction jobs. In December 2014 alone, the industry added 48,000 construction jobs. A total of 290,000 hires were made in all of 2014. According to USA Today writer Paul Davidson, “The construction industry is key to a healthy labor market because it provides the kind of middle-wage jobs that have dwindled in recent years and the prospect of stronger pay increases.”
Just what is meant by middle wage jobs? PayScale.com reports that the median wage for construction workers in the US stands at $14 per hour, or $28,000 per year. This figure does not include the overtime wages that typically go hand in hand with full time employment in the construction industry. Considering that not much education is required to enter the field, and that education in a specific trade or a college degree is often highly rewarded, this is good news.
Throwing more statistics at you, construction jobs are becoming available at nearly double the rate of other jobs in the country. Single family home projects are still lingering behind other construction projects. It’s no wonder. The sting of the subprime lending market collapse is still very fresh in the minds of many. Even though the market may be recovering, individuals are still recouping the losses they endured and aren’t necessarily in a position to be purchasing new homes. Combine that with tighter lending practices than the irresponsible lending of a decade ago and the result is a smaller market…but it is slowly growing. It’s certainly more encouraging than the previous constant drip of negative residential housing news.
What is bringing construction jobs back faster than other industries is the fact that multi-family construction has soared. Industrial and commercial construction has also seen a significant uptick as they are recovering faster than individuals and have money to invest back into their businesses.
Looking for construction jobs to apply for? Reminiscent of the Great Recession recovery, look to major cities and surrounding areas. These are where larger businesses and industrial companies will be centering their projects. Is the big city hustle and bustle too stressful? Power plant as well as oil and gas construction is also on the rise, and those projects tend to be further away from major population centers.