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Construction Industry Trends for 2016

construction industry trends

The construction industry trends for 2016 are looking like they will benefit workers.

The construction industry has exploded over the past year or so. Last year, money spend on nonresidential construction soared to $360 billion! That number is projected to reach $390 billion this year. To put that into perspective, that’s about 87 times Donald Trump’s net worth, which is a new record for the industry. Here are a few construction industry trends to look forward to this year.

Higher Demand

Unemployment in the construction industry is decreasing drastically. A recent survey conducted by the Associated General Contractors of America shows that construction unemployment is at its lowest rate since 2009. The organization also expects labor needs in the heavy and civil engineering construction sectors to increase due to the latest 5-year highway bill. However, because high schools have been shifting focus away from vocational careers and towards careers that require a college degree, the number of viable workers in construction has been shrinking. Due to less skilled workers in the field, the demand for competent workers is high, and more companies are hiring.

Less Parking Lots

Younger generations are increasingly foregoing buying cars and even getting licenses. After all, when you consider that one out of every three Millenial lives with their parents, buying and owning a car doesn’t seem like an economical choice for many struggling Millenials. As more people turn to public transportation, there is less and less of a need for parking lots in urban areas. That means that there will probably be less parking lots built this year. However, the recent 5-year highway bill suggests that construction energies will be turned towards highway maintenance. Plus, those old, leftover parking lots will likely eventually be constructed into something new.

Increased Security

The Great American Insurance Group estimates losses due to theft and vandalism in the construction industry to be “in the billions of dollars”. In order to combat these preventable losses, more and more construction companies are increasing both their cybersecurity as well as their worksite security. This translates to safer work sites for employees and more protection against intrusive phishing scams.

ABOUT RELIABLE CONTRACTING

Reliable is dedicated to delivering quality products, displaying professionalism within the firm, seeking new opportunities for expansion and profitability, and providing an environment for individual success. If you have a commercial or residential construction project that you need taken care of, please contact Anne Arundel County’s largest site-work contractor today by calling 410-987-0313 or visiting our website. You can also follow Reliable Contracting on Facebook, Google+, LinkedIn, Pinterest, and Twitter!

Reliable Contracting Company serves the following and surrounding counties: Annapolis, Queen Anne’s, Anne Arundel, Baltimore, Baltimore City, Calvert, Caroline, Charles, Howard, Prince George, St. Mary’s, Talbot, and Washington D.C.

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Serving Maryland's Commercial & Residential Builders & Developers Since 1928 Reliable Contracting Company, Inc. maintains a reputation as a leader in the construction industry. Our clientele includes builders, developers, individuals and government agencies. With projects ranging in cost from $10,000 to over $10 million, Reliable can be seen working on Maryland's roads, highways, airports, office parks, shopping centers, hospitals, churches, and residential neighborhoods earning our reputation by providing clients with consistent quality and dedication to their projects. Reliable Contracting Co., Inc. is a Proud Member of the following organizations: Associated Builders and Contractors, Chesapeake Chapter - www.abc-chesapeake.org Maryland Asphalt Association - www.mdasphalt.org Maryland Transportation Builders and Materials Association - www.mtbma.org National Asphalt Paving Association (NAPA) - www.asphaltpavement.org West Anne Arundel County Chamber of Commerce - www.waaccc.org Leadership Anne Arundel - www.leadershipaa.org National Federation of Independent Business - www.nfib.com U.S. Chamber of Commerce - www.uschamber.com Homebuilders Association of MD - www.homebuilders.org
2410 Evergreen Road
Gambrills
MD
21054
USA
Serving Maryland's Commercial & Residential Builders & Developers Since 1928 Introduction Reliable Contracting Company, Inc. maintains a reputation as a leader in the construction industry. Our clientele includes builders, developers, individuals and government agencies. With projects ranging in cost from $10,000 to over $10 million, Reliable can be seen working on Maryland's roads, highways, airports, office parks, shopping centers, hospitals, churches, and residential neighborhoods earning our reputation by providing clients with consistent quality and dedication to their projects.
2410 Evergreen Road, Suite 200
Gambrills
MD
21054
USA