Ecmweb 1943 212ecm32fig1
Ecmweb 1943 212ecm32fig1
Ecmweb 1943 212ecm32fig1
Ecmweb 1943 212ecm32fig1
Ecmweb 1943 212ecm32fig1

Construction Watch

Oct. 1, 2002
Employment Levels Decline The number of electricians in the workforce decreased 5.9% from May 2001 to May 2002 due to the slowing construction market and soft economy. After peaking in 2000, the number of employed electricians has dropped back near 1997 levels, when 61,414 electrical contracting establishments employed 641,985 electricians. Source: Bureau of Labor Statistics and the Census Market

Employment Levels Decline

The number of electricians in the workforce decreased 5.9% from May 2001 to May 2002 due to the slowing construction market and soft economy. After peaking in 2000, the number of employed electricians has dropped back near 1997 levels, when 61,414 electrical contracting establishments employed 641,985 electricians.

Source: Bureau of Labor Statistics and the Census

Market Snapshot

Construction project spending was flat in July, according to a report by the Commerce Department. Spending fell by 1.7% from May to June, but analysts predicted a 0.4% decline in July. Instead, the spending remained flat, and the government's spending on large projects helped offset the weakness in the commercial building sector. Here's a quick look at how some of the markets are faring in the stalled economy.

  • Spending on all commercial projects by private builders fell by 2.2% in July to a rate of $162.1 billion, the lowest level since September 1996.

  • Spending on industrial complexes dropped by 4.3%.

  • Spending on office buildings increased by 0.3%.

  • Spending by the government on public projects rose 0.9% in July, reflecting stronger spending on highways, schools, hospitals, and military facilities.

  • Activity dropped by 0.7% in July for residential construction by private builders due to a drop in spending on new apartments, townhouses, and other multifamily housing units. Spending on new single-family homes rose 0.4% in July.

Source: AP and Commerce Department

About the Author

EC&M Staff

Voice your opinion!

To join the conversation, and become an exclusive member of EC&M, create an account today!

Sponsored Recommendations

Electrical Conduit Comparison Chart

CHAMPION FIBERGLASS electrical conduit is a lightweight, durable option that provides lasting savings when compared to other materials. Compare electrical conduit types including...

Fiberglass Electrical Conduit Chemical Resistance Chart

This information is provided solely as a guide since it is impossible to anticipate all individual site conditions. For specific applications which are not covered in this guide...

Considerations for Direct Burial Conduit

Installation type plays a key role in the type of conduit selected for electrical systems in industrial construction projects. Above ground, below ground, direct buried, encased...

How to Calculate Labor Costs

Most important to accurately estimating labor costs is knowing the approximate hours required for project completion. Learn how to calculate electrical labor cost.