Colorado construction is booming Email
Tuesday, August 11, 2015 03:00 AM

Colorado construction is boomingStats and forecasters show a construction, jobs and population boom are underway in Colorado. 

Contracts awarded for future construction in June 2015 are 2 1/3 times more than those awarded in June 2014. This is according to Dodge Data Analytics, which monitors and reports changes in construction activity each month. In addition, year-to-date comparisons of January through June 2014 to January to June 2015 show total permits – both residential and non-residential – are up 37% in 2015. In dollars, YTD total contracts awarded through June 2014 were $2,593,732,000 and YTD through June 2015 were at $3,549,620,000.

Concurrent with the boom in construction, forecasters predict the state’s population will grow 1.5% per year to reach 6 million people by the year 2020. This also means another 60,000 new jobs in the construction industry by 2023, making labor an ongoing issue facing landscape and other companies within the construction industry. 

As of June 2015 per the Conference Board, the “supply-demand ratio” for jobs in Colorado was .92, meaning that there are more jobs than unemployed workers to fill them. The Board which monitors online job ads found that while the number of online job listings came down in both June and July of this year, online want ads in the state are up by 7,600 listings from July 2014. 

The highest number of listings were for professional and related services jobs at 43,217, with an average hourly wage of $33.7l. Openings for construction and maintenance jobs ranked fifth in listings with 12,401 openings at an average hourly wage of $21.67.

Read more in this issue of Colorado Green NOW:
ALCC Affiliate members recognized for community projects
Drought: Pain or profit?
Time for a mid-year tax check-up
3 online tools for managing your business’s social media