Top construction industries in 2024

The beginning of 2024 has brought traces of trends in the construction industry that we saw last year, including financing challenges and fluctuating costs of material and labor due to shifts in the economy. However, while we expect to continue to see this trend throughout the first half of this year, we believe there will continue to be an increasing demand for talent that have skills to effectively contribute ways to improve construction times, reduce waste, and lower labor costs.

What does the construction hiring landscape look like in 2024?

High demand for skilled construction talent

The construction industry faces several unique challenges, including a retiring workforce, historically low unemployment, several public and private mega projects, and the likelihood of lower interest rates which means a boost in the market.

The demand for talent remains extremely high as the industry faces a generational talent gap, with more than 20% of the workforce expected to reach retirement in the next 5-10 years. It is estimated that the industry will need to hire more than half a million new workers in 2024, according to a proprietary model developed by Association Builders and Contractors to keep pace with labor demand this year.    

Skill-specific roles in construction 

There has been a high demand for field and office staff across all levels. Candidates with niche, high-value project experience in healthcare, senior and assisted living, manufacturing, and data centers are particularly sought after based on projected growth. Due to the underlying cost pressures contractors have been experiencing in recent years, candidates with strong reconstruction and estimating experience remain in high demand.

Based on our observations of trends in the job market during the last part of 2023, we anticipate the following industries will be the most in-demand in 2024.

The most in-demand industries in construction:  

• Healthcare
• Senior Assisted Living
• Manufacturing
• Data Center
• Next Generation Office
• Logistics
• Retail
• Infrastructure
• Culture & Entertainment

See what salary construction workers are looking for in these industries.

What are workers looking for? 

Skilled labor continues to leave the industry to seek more flexible environments, specifically at the junior to mid-level. For all field positions, remote/flexible working is very limited based on the responsibilities of the role, but we have seen an increased level of flexibility for office-based positions, such as project management and estimating.

Similarly, work-life balance has become an increasingly important factor in determining whether a new position, or an existing role is the right fit. Candidates are looking for a more balanced lifestyle with fixed hours, no weekend work and reduced commute times.

“The competition for talent in the industry is fierce, and companies are looking at any opportunities they can to add to their benefits to attract and retain talent.” – Craig Thompson, Senior Managing Director

Both factors are a departure from previous years where candidates put most consideration into the project itself and compensation. We expect work-life balance and flexibility will be a lasting factor in determining if a role is the right fit.  

Looking to hire? Or ready to apply for your next job? Get in touch with one of our expert construction recruiters to help pair you with the right role and organization. Or, check out our construction job openings.