My Open Jobs, LLC

How the Upturned Economy is a Boon to the Electrical Industry

The economy seems to finally be stabilizing and recovering after the housing and financial crisis in 2007 and 2008 that stalled out virtually all of the new construction projects. There have been a few false starts, but it looks like we can continue to see new economic growth, and that means companies have already begun to invest in new building projects that they had put off.

In addition to new corporate building, new residential building is taking off and the stable economy means this residential new building growth won’t slow down any time soon. What is happening in the economy has been great for industries across the board which means that people who haven’t been employed, or who gave up looking for improved employment are dusting off their resumes.

For the past seven years we have seen an increase in multigenerational households, where college graduates moved back home, or families took in parents to save money. Now that better jobs are available, these people sharing homes are saving up money for down-payments and looking forward to purchasing single family homes again.

We will continue to see these kinds of purchases increase over the next decade, which means more new construction and more electrical jobs. People who have improved their employment may be looking to upgrade their housing situation which means electrical jobs in home improvement projects for people who are looking to sell their old home and buy new, as well as people who had been putting off their home improvement wish list until they’re bank accounts recovered.

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