Lance Surety Bonds recently published an infographic called Construction Industry on the Rise. The presented statistics are drawn from a survey among more than 800 contracting companies.
On the whole, the respondents have shown optimism that the construction industry is on the right track and following a tendency of growth and further development. Some 55 % of the business have replied that they plan to expand, taking on new projects, even outside their typical locale.
In terms of the most profitable areas in the private sector for 2014, the surveyed contractors have placed industries in the following order: a) manufacturing, b) retail, lodging, warehouse, and c) higher education and hospitals.
Along with the growing construction industry, there comes the need for workers. The infographic shows that 51% of contractors hired new employees in 2013, while another 41% are planning to hire. In addition, 62% of all companies are looking for skilled workers, who have been recently.
Take a look at the infographic below: