The construction industry is expected to experience a significant amount of employment growth over the next decade, according to new projections from the Bureau of Labor Statistics (BLS) and reported by the National Association of Home Builders (NAHB).
The BLS employment projections are designed to estimate labor market changes, given assumptions and estimates involving structural economic factors.
According to the BLS, the construction sector is expected to add 790,400 jobs through 2024. This places the construction sector fourth among major industries. The health and social assistance sector leads with a forecasted 3.8 million job gain, followed by professional and business services (1.9 million), and the leisure and hospitality sector (941,200).
