The relationship between the electrical construction industry and general construction projects cannot be ignored. When the housing market was in a slump from 2005 to 2012, this served to slow things down somewhat in the electrical construction industry as well. Since the housing slump was the result of an overall economic downturn, other construction related projects also slowed. In addition to a decrease in residential building projects, there was an accompanying decrease in industrial construction projects.
Since electrical contractors rely on construction projects to remain gainfully and profitably employed, when the construction industry as a whole suffers the electrical contracting industry suffers as well. Fortunately, the construction industry has received a global boost in recent years. This uptick in construction projects is a positive sign of overall economic recovery worldwide. Not only has the U.S. housing market fully recovered from the housing bust of 2008, but the construction industry has made a big comeback overall.
In fact, in 2015 global revenue for all construction industries exceeded $7 trillion. This number is expected to more than double over the next 10 years. This upward trend can be attributed to a variety of factors. In addition to steady population growth and rising standards of global living, an increasingly mobile labor force is another factor behind the growth in global construction. Population growth not only drives residential construction, it also increases the demand for commercial construction projects as well as the infrastructure projects required by a growing population.
Although facilities services, such as maintenance and repair work, are not generally as vulnerable to downturns in the housing market, the most recent housing crash adversely affected even this aspect of the electrical construction industry. Of course, the affect on facilities services was not felt as strongly as in other areas, such as residential housing. Nevertheless, recent economic recovery is good news for facilities services as well as those whose business is focused on new constructions, whether residential or commercial and industrial.
This steady economic recovery is good news for job seekers within the electrical construction industry. Even smaller electrical contracting companies are reporting increased demand for services, as well as an accompanying increase in revenues, in local markets throughout the United States. In other words, more electrical contracting companies are now hiring.
If you are a job seeker interested in opportunities within the electrical construction industry, or an employer in search of new talent to add to your team, signing up with a recruiting firm is a great way for job seekers and employers to connect. We all know that the most of the choicest jobs within the electrical construction industry are not necessarily advertised to the general public. Sometimes working with a recruiting firm is the only way to fill a position or find a job. Electrical Search Group is an excellent option for job-seeking electrical contractors who want an advantage over the competition. It’s also a great choice for employers looking for a hassle free way to fill open positions.
