In signs that the economy is on firmer footing, the construction sector added 45,000 jobs in December. This is the third month in a row that this sector has added jobs and marks the highest total number of workers since January, 2009, when the market bottomed out. As a construction law firm, it is good to see private and government projects picking up and construction work gaining momentum.
Compared to a year ago, the total number of construction workers is up by 263,000. This number expected to grow and all signs point to a healthy 2016 for the construction industry. A recent survey indicated that firms will be adding to their headcount in 2016. In fact, the biggest concern for employers heading into this year is a lack of qualified workers. This portends higher wages for workers and a much more stable market.
This is a positive development because construction drives all facets of the economy. As construction projects increase, the tax base grows, which, in turn, helps fund public projects. Construction provides a solid foundation for the economy and it is great to see the number of public and private projects continue to increase.
At Manion Stigger, we pay close attention to trends in the construction industry to help our clients thrive. We are a regional law firm with a national focus, providing experienced, knowledgeable representation to the people we serve. For an in-depth consultation regarding your construction project, contact Manion Stigger today.