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.