San Diego2018-09-26T12:43:11+00:00
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SAN DIEGO-CARLSBAD

Construction activity in San Diego shows no sign of slowing and is projected to continue its run through to end of 2018 growing by 18.9% before settling down to a moderate pace in 2019 and 2020.

The surge in construction volume continues to be driven by residential, healthcare, and education sectors along with commercial and defense due to a growing workforce and population. This continued growth in construction volume, however, is testing and straining local labor resources. With unemployment currently at a very low at 3.7%, general contractors are challenged to find skilled labor and are trying to draw labor from surrounding markets. Construction labor counts show there are currently 82,400 workers employed in the San Diego area, well below the 95,000 peak reached in 2006. Steel erectors, welders, plumbers, pipefitters, sheet metal workers, and electricians are in tight supply. Volume is forecasted to moderate in 2019-2020, averaging a 0.7% decline over the two-year period.

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