As goes the Economy, so goes Construction.....

As goes the economy, so goes construction.

That industry mantra can sound either disheartening or hopeful depending on the current economic landscape.
No doubt, the recession hit hard – and few industries were hit harder than construction. In fact, in a study commissioned by Associated General Contractors, it said the recession and resulting housing and credit slump, has resulted “in one of the highest unemployment rates in any segment.”

But thanks to a slow, but steadily, improving economy, that’s all starting to change -- and it only takes a quick jaunt in downtown Salt Lake City to see the proof of the rejuvenation.

Nearly every corner of the major metro block is packed with cranes, cones and cement mixers. The city's hub is in the midst of one of the biggest revitalization projects in the nation. The story is the same for North Temple -- a revitalized shopping district and one of Salt Lake's major thoroughfares to the airport. And soon, the aptly-named 'Sugar Hole' in vintage Sugar House will become home to new retail shops and storefront luxury condos.

This trend was also confirmed on paper as, for the first time in six months, the nation’s construction industry added jobs in February. According to the March 4 employment report by the U.S. Labor Department, 33,000 jobs were created during the previous month.
But this is far from unexpected.

Fact is, buildings fall into disrepair. Roads buckle in the cold and potholes abound. As the population increases, so does the need to larger, better infrastructure and more housing options. As the economy continues to find its breath, these opportunities will grow expontentially.

So, while flurries of orange cones and traffic delays may inconvenience some commuters and pedestrians, their presence is indicative of a greater economic turnaround -- and the perennial security of the construction industry.

That’s where Construction Complete can help . As a premier supplier for professional construction tools and equipment, we can help you make the most of the economic upswing. By providing everything from custom tools to landscaping supplies to heaters, we can help you maximize your efficiency year-round. We understand your business needs and promise to continue to provide the expertise, fair pricing, timely delivery and custom solutions you need to excel.

So, take comfort. No, the construction industry is far from recession-proof. But it’s almost always at the forefront of recovery.

Comments

[hi vis]

The economy seems to be slowly improving, but it will be a very long time before construction reaches the level it was prior to the economic downturn.

[FR]

Unfortunately the construction industry is very dependent on the economy. Its generally the first to be effected by a downturn and the last to recover.

[Howard]

Perhaps what's happening in Salt Lake will soon spread to the rest of the country. We sure need a boost in both residential and commercial construction.

[learning about new construction]

Jon, you bring up an interesting point. I have never thought that it could be possible that the two are related like that: the unemployed construction workers creating the high unemployment rate. It makes sense, though. Hopefully things will start looking up soon, though.

[Randy Simonton]

www.randyslist.com

[Jon Sleight]

I wouldn't be shocked if the unemployment was so low because of the housing market is dead. I can see how construction and the home can create millions of jobs.

[Randy Simonton]

I've owned a Deck and Fence company for almost 20 years. When the economy "tanked" we noticed that getting paid on time and in full became more of a problem. I finally bit the bullet and created a website that i've been thinking about for years and our industry has needed for a long time. I would love for you to take a look and tell me your thoughts. It's taken off better than expected.

[LegacyAZ]

In this economy, homeowners may want to consider smaller projects like kitchen and bath remodeling. Upgrading one or two rooms in your home can be much less expensive than you might think - and it will add value to your home. Check out some home remodeling ideas online at http://legacyaz.com/portfolio/.

[sport grass]

This is a pretty interesting, always enjoy your blog!

[NJ Cellulose Insulation Contractor]

Unfortunately this is a very real problem for contractors. Homeowners do need to be encouraged however, that certain home improvements can be beneficial and an investment in the long run. It is just the initial cost that scares them off.