Recent numbers look promising, but several obstacles — including shifts in where young households want to live, their capacity to take on debt and rising costs for home builders — suggest the sector won’t soon offer breakout growth.
According to a Wall Street Journal article “Rising housing prices have made homeowners feel better about spending on their homes. The problem: Housing still isn’t contributing much to overall economic growth because new construction of single-family homes, which packs an outsize economic punch, is stuck near levels hit during the early 1990s recession. Initially, construction collapsed due to falling demand. Now, it faces a second headwind: Supply constraints have emerged as more people want to live in cities and construction costs have risen, while demand remains stubbornly weak at the entry level.”
Thorlabs in Newton, NJ plans new construction
Thorlabs will go to the Planning Board this fall with plans for new laboratories and manufacturing space that would double its Newton workforce by adding 400 jobs over the next few years, many of those being construction jobs, company founder Alex Cable said this week. Over the past couple of years, Cable purchased several pieces of property on or near the company’s headquarters building on Sparta Avenue in hope to build and expand. If you’re looking for construction jobs in that area, keep your eyes on this project.
Here are some other construction jobs available throughout New Jersey, based on EliteProNet‘s database:
|40 E. Park St/Newark
14 Unit Residential Building additions and renovations
|Newark, New Jersey 07102|
|377 Route 35 South/Brick
additions and alterations to an existing home.
|Brick, New Jersey 08724|
|722 Clayton/Bay Head
new single family home
|Bay Head, New Jersey 08742|
|Convert 47 th. St. FH to Homeless Shelter/Union City
4000 sf conversion of a fire house to a homeless shelter
|Union City, New Jersey 07083|
1766 sf office expansion
|Marlboro, New Jersey 07751|
Square footage: 12,500 New Construction
|Camden, New Jersey 08102|
From additions and alterations to new constructions or the conversion of an old fire house to a homeless shelter, there are plenty of construction jobs available out there. regardless of the struggling industry. If you are a qualified contractor, people are looking for you!
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Happy construction news
Construction bosses, faced with growing demand for their services and a shrinking pool of talent, are raising wages at the fastest pace in six years.
Analysis of federal jobs data by the Associated General Contractors of America found that average hourly earnings in construction increased 2.8% in the 12 months ended in August, compared to raises averaging 2.1% in the previous year.
The pay hikes come as nationwide construction employment hit 6.39 million in August, the highest since February 2009. The number of unemployed construction workers fell to 525,000 last month, the lowest August level since 2001.