The US construction industry will see double digital growth over the next decade, creating a massive need for upskilling

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The American construction industry is the literal backbone of the American landscape and one of the largest economic drivers of the country, expecting to see double digital job growth over the next decade.

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According to Forbes and the Bureau of Labor Statistics, the US is expected to see an 11% growth rate in the construction industry over the next decade as large-scale urban development projects paint the U.S. landscape. According to Burning Glass Technologies, in 2022, there were 750,064 job listings in construction in the US over the last 12 months, with an industry growth rate of 10.8% over the next decade.

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In a 2021 report by Marsh, Guy Carpenter, and Oxford Economics Global, global construction output in 2020 was $10.7 trillion, expected to grow by 42% or $4.5 trillion between 2020 and 2030, to reach $15.2 trillion. The construction industry is set to be a global engine for economic growth and recovery from COVID-19. Construction output in the US will grow by 32%, or $580 billion from 2020 to 2030, to $2.4 trillion in 2030.

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The construction industry is undergoing transformational changes with Industry 4.0 technologies and the world of connected construction, producing both greater efficiency and sustainability. In Deloitte’s 2021 report, while many engineering and construction firms are gradually shifting from primarily manual processes to deploying point solutions and single-use cases, or ‘pockets of digital’, making a successful transition often requires fundamental shifts in the overall ways of working. The five key trends driving the future of construction are smart operations, data and advanced analytics, prefabrication and modular construction, the future of the workforce, and strategic sourcing.

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A rapid influx of digital technologies, ongoing labor shortages, COVID-19, and new workplace protocols present E&C firms with workforce challenges. While the industry has been consistently adding new jobs, challenges due to talent shortages persist. The Bureau of Labor Statistics data suggests that since 2017, while the number of job openings has almost doubled, the number of new hires has increased by less than 10%.

It's time to start upskilling the American construction industry. Join the cause and protect our country.