The construction job outlook for 2024 is extremely favorable. Therefore, now is the time to build your construction career.
The construction labor shortage increases as senior workers near retirement age, many workers transition to other industries, and younger generations choose other professions. As a result, you have increasing opportunities to enter or advance within the construction industry.
Construction Job Outlook for 2024
The U.S. Bureau of Labor Statistics (BLS) data showed 456,000 construction job openings in February 2024. Therefore, the growing availability of construction jobs from apprenticeships to supervisory roles lets workers find jobs that align with their goals and interests.
Associated Builders and Contractors (ABC) reports that the construction industry must attract an additional 501,000 workers on top of the normal hiring pace in 2024 to meet labor demand. As a result, many construction firms offer an attractive culture, competitive compensation and perks, and exceptional employee experiences to attract and retain workers.
Growing Need for Construction Specialization
Specialization is especially valuable in 2024. BLS data shows electrician opportunities will grow 6% from 2022 to 2032, faster than the average for all occupations. Also, an average of approximately 73,500 openings for electricians are projected each year over the decade.
For instance, new home construction and corporate relocation drive the demand for skilled tradespeople in Texas this year. As a result, there is a strong need for sheet metal mechanics, pipefitters, and other skilled workers.
Construction Job Outlook Trends
Four trends are expected in the construction industry over the next decade:
- Rising compensation
Many construction firms are raising compensation rates to hire and keep employees. For instance, a report by the Associated General Contractors of America (AAGC) showed that 63% of respondents increased base pay more in 2023 than in 2022 to strengthen employee attraction and retention rates. Many firms also offer hiring bonuses and additional benefits to find and keep employees.
The rising compensation rates make now the best time to build your construction career and increase your earning potential. Since many roles require only a high school diploma or GED, you can begin earning money right away.
- Increasing job stability
The growing demand for construction workers offers strong job stability. For instance, many firms are focused on filling employee needs to increase engagement, close the skills gap, and strengthen retention. Also, the transferrable skills you gain can qualify you for additional opportunities with increased income and benefits.
- Growing use of construction technology
Construction technology spending is growing due to the worker shortage. For instance, firms are investing in equipment and software to streamline tasks, elevate safety, and improve project outcomes. As a result, you can learn to use new construction technologies and position yourself for increased job opportunities.
- Additional professional development opportunities
Construction firms are focusing more on internal talent development to support employee attraction and retention. For instance, AGC and Autodesk’s 2023 Workforce Survey Analysis found that 41% of firms are elevating investments in training and professional development programs. Other firms are upskilling and reskilling their employees and training apprentices and entry-level hires. These opportunities support construction career growth.
Are You Looking for a Construction Job?
Field Talent can match you with construction jobs that fit your goals, abilities, and interests. Visit our job board to apply for a role today.
