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Construction firms expect growing demand this year

By |  February 5, 2014
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Many construction firms plan to start hiring again and most contractors predict demand will either grow or remain stable in virtually every market segment this year, according to an Associated General Contractors of America survey.

“Contractors are more optimistic about 2014 than they have been in a long time,” says Stephen Sandherr, the association’s CEO. “While the industry has a long way to go before it returns to the employment and activity levels it experienced in the middle of the last decade, conditions are heading in the right direction.”

Sandherr notes that many firms plan to begin hiring again, while relatively few plan to start making layoffs. Forty-one percent of firms that did not change staff levels last year report they plan to start expanding payrolls in 2014, while only 2 percent plan to start making layoffs. However, net hiring is likely to be relatively modest, with 86 percent of firms reporting they plan to hire 25 or fewer new employees this year.

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