Table of Contents
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Diving into the numbers
This week, we’re going to dive into the numbers. If there was a silver lining from COVID, it was the renewed vigor for the trades. College enrollment experienced a significant decline during the pandemic, and it still lags behind pre-pandemic numbers. According to a resource called Construction Coverage, from 2020 to mid-2022, a booming housing market fueled by low interest rates and pandemic-driven migration trends led to a surge in residential construction.
As demand for housing cooled in response to rising interest rates in late 2022, nonresidential construction took the lead. Large-scale investments in infrastructure and manufacturing have since fueled steady job growth, even amid broader economic uncertainties. However, despite this momentum, the industry faces significant challenges in the coming years. Persistent inflation, high interest rates, and the potential for new tariffs on imports could raise costs for builders. Additionally, changes in federal funding priorities could slow investment in clean energy and infrastructure projects.
Employment Growth
Despite these headwinds, recent projections from the U.S. Bureau of Labor Statistics (BLS) suggest that construction employment will continue to grow at a rate exceeding the national average over the next decade, https://www.bls.gov
Take a look here first of the overall construction employment numbers, and then take a look at the numbers for women in construction.
Podcasts
MTGA: Milwaukee Pipeline: Join Andy and Eric as they dive into the highlights of the Milwaukee Tool Event, where innovation meets practicality, https://mechanical-hub.com/make-trades-great-again-podcast/
AFC: Did you also know that electricians and linemen, for example, are reported to be five times more likely to die by their own hands than from a physical injury on the job? Tim and John talk with Tom Murphy, director and founder, Sweethearts & Heroes, an organization which aims to prevent hopelessness, bullying and suicide by providing dynamic, inspiring content, https://mechanical-hub.com/appetite-for-construction-podcast/
