This December, 2012, article in Electrical Construction & Maintenance focuses on the “2013 Forecast and the Fiscal Cliff.” Author Michael Eby cites five sources in predicting that that the general outlook for the electrical industry this year is good:
According to the FMI Corporation’s 4th Quarter 2012 Nonresidential Construction Index Report, while the construction business and expected backlog are down, both the overall economy and the economy affecting construction are up: “panelists cited power, manufacturing, and industrial as their best bets in the near term.” Clinic and hospital construction is also considered promising.
FMI’s “2013 U.S. Markets Construction Overview Report” predicts an increase of 11% in residential construction over that of 2012, and a year-over increase of 31% in construction of multifamily housing.
Associated Builders and Contractors, Inc., in their forecast for 2013, predicts the continuation of a modest recovery with an increase of 5.2% in nonresidential construction for the year. Because professional and business services together comprise the fastest-growing industry in the country, spending for new office construction will likely increase by as much as 10%.
Reed Construction Data’s end-of-year assessment includes a prediction of growth across the board for all types of construction: residential, commercial, manufacturing, highway and transportation market sectors. Then their March 15, 2013, report highlights 20 major construction projects that will give a significant boost to the industry nationwide. Resorts, hotels, condominiums, and mixed-used commercial facilities are planned in California, New Jersey, New York, Florida, Texas, Missouri, Tennessee, and elsewhere.
The overall message from these forecasts and reports is that licensed electricians will continue to be in demand, even in a flat economy. Let My Open Jobs help equip you with the trained technicians you need for your construction jobs. Contact us for more information today.