Construction Industry Boom May Be Coming in 2018
According to the Bureau of Labor Statistics, the construction industry added 30,000 jobs in December 2017, and 210,000 jobs total for 2017, a 35 percent increase year-over-year in total jobs.
Three-quarters of construction firms said in a new survey that they plan to increase payrolls in 2018. Stephen Sandherr, CEO of the Associated General Contractors of America told CNBC that the industry's optimism for all types of construction "is likely based on current economic conditions, an increasingly business-friendly regulatory environment and expectations the Trump administration will boost infrastructure investments."
Construction spending is also soaring, rising more than expected in November to a record $1.257 trillion, according to the Commerce Department. That was up 2.4 percent annually. Spending increased across all sectors of real estate, commercial and residential, with particular strength in private construction projects.