Hawaii is leading the nation in the percentage of new construction jobs added in May, according to a report from the Associated General Contractors of America. This paints a pretty clear picture about the direction in which the state is going as far as development, including the construction of both new Hawaii homes and commercial structures.
In fact, from May of 2015 to May of this year, the construction sector added the highest percentage of new jobs in every state, which is something worth being aware of if you want to gauge the economic growth of the nation as a whole. Hawaii saw no less than 6,700 new construction jobs during that period, which was a whopping 20 percent increase.
Between April and May of this year, Hawaii added 700 construction jobs, which was an increase of 1.8 percent. That’s a pretty substantial change for a period of just one month. It will be interesting to see how the numbers play out in the future. In the meantime, the added employment opportunities are always appreciated by local residents.
The past year’s sharp increase in construction jobs isn’t too surprising, particularly because of the strong demand for new housing that we’re seeing, and not just on Oahu. New Maui homes are also in demand, and buyers like a wide range of choices to suit their preferences.
According to Ken Simonson, chief economist for the Associated General Contractors of America, the slowdown in monthly hiring that has emerged is most likely due to a lack of workers, not a lack of work. That’s because 70 percent of firms reported that they were having a hard time finding qualified workers, as of earlier this year. This should be encouraging news for all the new construction workers out there who are entering the job market now.
In the future, we’ll keep an eye on new Maui real estate developments coming up in the West Maui area, and throughout the island. If an interesting project shows up, we’ll post about it. Check in each Friday for our latest update. Mahalo!