The construction industry stands at the forefront of economic sectors experiencing a notable rise in salaries in 2024. With the landscape of the workforce continually evolving, understanding the dynamics of construction salaries is crucial for both employers and employees within the sector.
The construction industry has long been known for its physicality. But times are changing. Today, technology is transforming the sector, and with it, the way we attract and retain talent.
The construction industry has recently experienced a significant increase in wages, largely due to persistent labor shortages. It is important to understand the factors contributing to this wage inflation and its implications for the industry.
The construction industry is witnessing a remarkable surge in demand for skilled labor, a trend that's reshaping the employment landscape and pushing wages to unprecedented heights. A recent report from the Associated Builders and Contractors (ABC) sheds light on this phenomenon, indicating a robust future for those considering a career in construction.
The unprecedented push to bring manufacturing back to the United States has opened a window of extraordinary opportunity for the construction industry. Manufacturing investment reached historic highs in 2023, with real private manufacturing construction investment reaching its highest level in 2023 Q3. This indicates a significant uptick in manufacturing construction activity.
In the competitive landscape of the construction industry, a company's brand is more than just its logo or services. It's the story you tell - a narrative that encompasses not just what you do, but why and how you do it, and the impact it has on clients and the broader world.
Many companies have committed to hiring veterans by offering specific opportunities or outreach programs. Some set targets for hiring a certain number of veterans within a timeframe.
Your brand as an employer is crucial to attracting any type of construction talent, including project managers. You will get more candidates if your company is seen as a positive workplace. Use language that resonates with construction talent. Offer competitive salaries and benefits.
The construction sector recently witnessed a notable shift: a decrease in nonresidential construction spending. This change ends a 17-month period of consistent growth, ushering in new dynamics for the industry, particularly in hiring and employment. Understanding these changes is crucial for construction companies and recruiters.
In 2024, the construction industry stands at a pivotal crossroads. A remarkable surge in job openings, marked by a 10% increase to reach the highest levels since 2022, signals both a challenge and an opportunity for construction companies.