In 2024 the construction industry demonstrated strong job growth and increased spending. Deloitte reports the July employment numbers boasted 8.3 million people employed in the construction industry, a fantastic increase from the previous high of 7.7 million in 2006. Dropping interest rates, government infrastructure spending and a growing labor market are some of the factors of a strong construction economy seen in addition to the trillions of dollars promised to school construction, manufacturing, and industrial construction. The impacts of inflation and a restrictive lending market is the other side of the coin. Increase was seen in the educational, retail, restaurant, medical and data centers sectors.
ConstructConnect provides the following graph in November 2024 showing United States bid projects by month over a five year period. While 2024 had a 10% increase over 2020, there was a slight 5% increase over 2023 and a decrease of 4% compared to projects out for bid in 2022. 
This chart helps to see the construction bidding trends year over year. Based on the data provided, some simple conclusions can be made. The cyclical nature of construction continues to show a peak in spring, with less work to bid in the fourth quarter. 2024 boasted great job growth, infrastructure growth, and provides a planning tool for 2025.
What Does AIA Activity Tell Us About Construction Growth in 2025?
What is on the AIA docket for 2025? Ongoing market uncertainties is felt from coast to coast. AIA Chief Economist Kermit Baker, PhD. notes “Despite the challenges, specific sectors like manufacturing construction are showing strong ongoing activity from the surge in projects that started during the pandemic, while most institutional sectors are seeing reasonably healthy gains, fueled by the education market.” While this is evidence of a thriving industry, over the last two quarters, architecture firms have seen a decline in projects making the transition to the workforce pipeline.
2025 provides avenues of optimism including lowering interest rates, declining mortgage rates, government Infrastructure Investment and Jobs Act, Inflation Reduction Act and other legislation to contribute to growth in manufacturing and energy construction.
Commercial facilities activity effectively will be flat this year and next, manufacturing construction will increase almost 14% this year before stabilizing in 2025, and institutional construction will see a more than 10% gain this year before slowing to 4% in 2025
How Can Construction Education Prepare Us for The Future?
Construction education and training builds communities amongst learners, amplifies leaders, and gives a foundation, filling in the gaps created during on-the-job learning.
By attending online construction classes, engaging in construction education and training, and mentoring those at the beginning of their construction careers, the connections made and the careers developed will give way to a stronger, more productive and more engaged workforce. “It’s been incredibly valuable to learn different methods for accurately assessing change orders, which is such an essential skill. Seeing everyone’s progress and engaging in discussions has truly been inspiring, and I also feel like I’ve grown significantly in understanding blueprints through this class. The shared experiences and knowledge have made a real difference!”
Ensuring a firm foundation by taking classes such as 103 Construction Blueprint Reading enhances skills sets, provides additional opportunities to discuss strategies, solve problems and reflect on key career moments. Register with one of our partners in online education today.
