3 Things We Expect to See in 2025
2024 was an interesting year in the construction industry to say the least. We not only experienced the effects of an election year, but we also saw rate cuts, fluctuations in construction project starts, the labor market and more.
As we have reflected on the past 12 months and the many conversations we have had with General Contractors, Developers and Subcontractors in the Midwest and Western US, there are 3 main things that we expect 2025 to bring:
An overall increase in the number of projects breaking ground across all construction markets (Multifamily, Commercial, Industrial, Federal, etc). With the recent rate cuts in September this year, many construction companies and developers we have heard from have been encouraged that will bring a better outlook for lending and therefore new construction projects in the new year especially in the non-residential markets.
Under the Trump administration, there will be some challenges for contractors regarding immigration and employment authorization especially for subcontractors and specialty contractors. However, we anticipate that overall the Trump campaign will end up creating more jobs and opportunities within the construction industry as a whole.
Federal Construction projects and Infrastructure projects will continue to lead the way. There has been an increased focus on these types of jobs recently and we expect that to continue into 2025. As we continue to serve clients who focus on these jobs, we have heard that these companies have their strongest pipelines of upcoming projects in years.
Recruiting in the construction industry every year brings many ups and downs. We strive to stay consistent and help our clients and candidates meet and exceed their goals each year. As we gear up for 2025, we have a lot of optimism about where the industry is headed as a whole and we are thankful to play a small part in it!