Forecast: Construction Employment in the US

As of 2023, construction employment in the U.S. stood at approximately 11.4 million people. According to forecasts, there is a gradual annual growth trend expected, with employment rising from 11.46 million in 2024 to 11.7 million in 2028. The year-on-year growth rate is consistent at approximately 0.52% each year, reflecting a steady upward trajectory. Calculating the compound annual growth rate (CAGR) from 2024 to 2028, this represents an average annual increase of about 0.52%.

Future trends to watch for include technological advancements in construction, which could either boost employment due to increased project volume or cause a shift in the job market due to automation. Additionally, economic factors, government infrastructure spending, and regulatory changes could significantly impact employment levels over this period.