Economic Outlook More Promising in Commercial Construction Industry

Economic Outlook More Promising in Commercial Construction Industry

Economic Outlook More Promising in Commercial Construction Industry

high-rise-commercial-construction-office-buildingCommercial construction has been slow to recover from the Great Recession, but there are more signs pointing to a turnaround now than at any time since that economic decline began.

Nationally, construction companies added more than 26,000 jobs between August and September, and the unemployment rate in the industry has dropped four points in the past year.

“These numbers give us a taste for how investing in construction activity can really boost overall employment figures,” said Stephen E. Sandherr, the CEO of the Associated General Contractors of America. “However, the real question is whether these numbers are an anomaly or the start of a positive trend.”

Locally, the news was also encouraging. North Carolina added 2,800 construction jobs in those two months. McGraw-Hill also estimates North Carolina’s 2011 contracts at $11.2 billion, a seven percent increase from 2010.

“We have been waiting for the construction industry to stabilize for a while, but it is a positive sign to see these encouraging numbers,” said CM Black President Emmitt Black. “We are hoping this is a sign of things to come.”

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