U.S. Construction Industry Winners (and Losers)

construction industry

We’ve officially put 2020 behind us, but the damage control is still very real for many of us in the construction industry. Some people said the deadly virus only affected those who were aging, frail, or in poor health. That’s not true. All of us were/are at-risk for COVID and all of us have been affected by it.

The same people are saying the pandemic only affected construction industry companies that were aging, frail, or in poor health. That isn’t necessarily true either.

How the Construction Industry Fared: Pandemic 2020

March 2020 marked the unofficial beginning of the pandemic, and in the 10 months that followed, Texas lost 35,600 construction industry jobs, with Houston losing the majority: 24,500 jobs. New York came in second place followed by Florida and New Jersey.

Seasonally adjusted, construction industry employment for the year dropped in 34 states. Vermont had the largest percentage of jobs lost since the pandemic; twenty-three percent (3,400 jobs).

“AGC (Associated General Contractors of America)…said demand for construction will continue to suffer until the coronavirus is under control,” says Joe Bosquin, construction industry reporter. The AGC “urged federal officials to enact measures to help stem additional job losses in the sector. These new measures should include new federal investments in infrastructure, backfilling depleted state and local construction budgets, and moving quickly to forgive Paycheck Protection Program loans issued last year.”

However, 15 states and D.C. saw jobs increased since the onset of the pandemic: Virginia was the big winner with 10,800 jobs added. Utah and Alabama followed. Alabama also had the highest percentage (6.4%) of jobs gained for the entire year.

States With Highest 2020 Percentages Employment Losses

  1. Vermont
  2. New Jersey
  3. Delaware
  4. North Dakota
  5. Iowa
  6. Massachusetts
  7. Louisiana
  8. New York
  9. Nevada
  10. New Mexico
  11. Ohio

States With Highest 2020 Percentages Employment Increases

  1. Alabama
  2. Utah
  3. South Dakota
  4. Virginia
  5. Maine
  6. South Carolina
  7. Idaho
  8. Wyoming
  9. Kentucky
  10. Missouri

Timing Is Everything

Within the last 12 months, 2,097,370 building permits were entered throughout the United States. Your business-building professionals at Construction Monitor say timing is everything in a competitive construction industry. (And the construction industry has always been competitive.)

The construction companies that will be winners in 2021 will take advantage of the information we offer. If you want the tools that build success, contact Construction Monitor today.

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