Maybe all the good buildings have been built? That might be a reason but its unlikely. So is the construction industry declining?
The Drawbacks
Construction is an overall term which means that art and science of forming objects, systems, or organizations. So like every industry it has its own natural drawbacks.
Safety
Worker safety remains an issue that plagues the construction industry. For decades, construction has helped lead all industries in the total number of workers killed. The number of accidents and injuries at work has been steady for years. Holding employees safe and shielding them from hazards and injury should be a top priority for all company owners.
Lack Of Human Resources
During the economic crisis, the construction industry shed more than 2 million workers and failed to bring jobs up to pre-recession levels. Most employees were either unemployed or laid off and sought jobs in other sectors. While the transition began, it became evident that these employees, did not return.
The simple truth is that the construction industry is not recruiting enough resources to satisfy rising demand.
Reluctance To Technology
The construction industry as a whole is historically reluctant to implement emerging technology. Countless reports and polls over the decades have found that company leaders tend to underinvest in tech. Despite their awareness of the many advantages that technology can offer to running a business and handling building ventures they neglect it.
Interestingly, all of these techniques can be used to better solve the many issues facing the building industry.
Conclusion
In the past three decades, the US construction industry has risen from approximately 4 million jobs to a maximum employment of 7.8 million in April 2006, when the downturn began. The Great Recession of 2008/09 has exacerbated a rapid fall. .Today, the US building industry has 5.5 million employees. A decline of-29 per cent from the record six years earlier. As of June 2012, the Bureau of Labor Statistics (BLS) estimates that the US Construction Industry has a rate of unemployment of 14.2% compared to the national average of 8.2%.
The construction industry will always have its place in the world as bigger and better structures are built every year. How do you think the current pandemic has affected the industry though. I can imagine regular construction work requires many people to work within close proximity to each other, so it would be interesting to see how they’re still getting their work done while maintaining a good social distance.
Though honestly, the construction industry has really been on the fall for some years now and relalyz a lot has happened that has contributed to that. However, I feel that a lot more has happemed due to the covid19 that may either spell doom or boost the potential of the construction industry back. Since most people are moving their business virtually, it may really impact the construction industry. However, it can also have a good effect too. Thanks