Grab that cup of joe and head hear for the top reads for the Commercial Construction industry to get you charged up! This week’s articles are from Lehrer Cumming, Reportlinker.com and Building Design + Construction
Construction Growth Outpaces the Workforce via Lehrer Cumming
The demand for U.S. commercial construction projects continues to surge and is outpacing the labor market. This translates to more troubles for companies actively looking to fill construction jobs and hire laborers to complete projects. Lehrer Cumming provides some eye-opening statistics in this article, including the fact that job openings within the industry have increased 100% since 2014 while hiring numbers have only increased by 14%.
Job openings in the construction industry have increased 100% since 2014 while hiring numbers have only increased by 14%.
North America Data Center Construction Market 2028 – Regional Analysis and Forecasts via Reportlinker.com
Good news for Data Center construction companies. A robust analysis of the data center construction market shows that the demand for high-speed data processing solutions is increasing. The findings show that smaller companies are continuing to digitize their services and will be looking for third-party data storage solutions. According to Reportlinker.com, the North America Data Center Construction Market is expected to grow from $18.5 Billion up to $32.96 Billion by 2027 representing a huge windfall to the already booming industry.
The data center construction market is expected to grow to a nearly $33 Billion industry by 2027.
Multifamily Construction Market Remains Strong heading into 2020 via Building Design + Construction
Another booming market sector? Multifamily. PSMG shows us that there’s no end in sight when it comes to multifamily demand. Less than 1 in 10 firms reported a decrease in multifamily proposal activity, marking a continual increase in demand since 2011. Perhaps even more notable is the Senior and Assisted Living submarket where only 4 out of 86 firms reported a decrease in proposal activity during Q3 2019.
Fewer than 1 out of 10 construction firms reported a decrease in multifamily proposal activity during 2019 Q3.
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