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Construction Statistics
ОглавлениеLet's put it all in perspective. Construction is one of the nation's largest industries, accounting for approximately 4.3 percent of the gross domestic product. It is larger than the automobile and steel industries put together. Housing starts (which are identified by building permits issued) are one of the major economic indicators reflecting the overall health and direction of our economy.
According to the U.S. Census Bureau, 2017 ended with approximately $1.257.0 trillion worth of construction (all private and public sectors) put in place for the year. The U.S. Department of Labor estimates that there are at least 791,772 private construction companies employing approximately 6.7 million people in the United States. Construction offers more opportunities than most other industries for individuals who want to own and run their own businesses, and statistically an additional 1.6 million individuals do just that.
Construction impacts the quality of life for every human being and plays a major role in all of society and has for a very long time. Anyone who is involved in construction—from the grading laborer to the electrician to the estimator to the construction manager to the construction company executive—needs to understand that what they do makes a big difference in the world.
Construction has been around a very, very long time. Construction means, methods, and motivations have changed over the past 12,000 years or so, and the trek has been absolutely fascinating. Let's continue this adventure by taking a look at some of the factors that have influenced this very significant industry.