According to the Bureau of Labor Statistics, projections for the construction industry look promising. The Bureau estimates the construction industry is one of the fastest-growing industries in the nation with job growth of more than 1.5 million jobs between now and 2022 – an annual growth rate of 2.6 percent. This was the catalyst for the construction industry to hire more veterans.
The Announcement – Hire More Veterans
In our previous blog post, we covered various areas of the construction industry. Also, where we can expect to see positive changes. Organizations such as the National Association of Home Builders (NAHB), the National Asphalt Paving Association (NAPA), and industry experts are predicting a steady rise in construction over the next couple of years. These groups base their information on a series of factors: global economic growth, documented industry records over a series of years, and Department of Labor statistics from previous years, to name just a few.
So, Monday, February 10, 2014, the announcement came at A National Symposium: Veteran’s Employment in Construction that construction companies pledged to hire 100,000 veterans over the next five years as part of an initiative seeking to encourage non-government support of former troops. The agreement involves more than 100 companies, from national firms, regional firms, local contractors and subcontractors across America.
Following this announcement, the Labor Department plans to hold three roundtable discussions. They will be focusing on how employers can tap into the veterans’ community. Also, how former troops can get involved in apprenticeships, as well as credentialing and certification programs.
So the questions we pose to you are:
Whether you are an employer or a veteran, how do you feel about this announcement? What what plans are you making for your future in the construction industry?
Source: U.S. Department of Labor (February 10, 2014), The Washington Post (February 10, 2014)