The U.S. economy is a very complex and intricate financial system. America’s economic system is dependent upon a number of different factors that are all interconnected. These factors include interest rates, currency strength, gross domestic product (GDP) and consumer confidence. All of these indicators influence the economy and how well it is going to perform.
The housing market is one of the major components of the U.S. economy because many other industries are dependent upon this particular sector. The construction field is an industry that relies heavily on the residential housing market to generate profits and produce jobs. When the housing market is not performing the construction industry will go into decline. This has happened between 2007 and 2011 when America had experienced a major economic recession.
America’s retail sector does not just affect the construction industry other areas of the economy can also impede infrastructure development. One way that economists can figure out if the economy is weakening is by measuring Payroll Job Growth rates in terms of employment. Construction jobs and jobs related to construction accounts for nearly %5 of all employment opportunities within the U.S. When jobs in construction began to decline it usually means that the economy is not doing well.
Other jobs in fields such as manufacturing, retail and the private sector can also help economists to determine if the economy is strong. When work begins to decline in jobs related to commercial wood production, furniture sales and engineering the lack of construction opportunities is probably the cause. Again, a lot of the sectors of the economy are dependent upon each other and this is a fact for the construction industry.
Consumer spending is responsible for producing 70% of Britain’s economic output. Consumers who do not make commercial or big ticket item purchases either do not have the money or they lack confidence about the economy. Big ticket items such as cars and furniture have to be closely monitored because people will not buy these products if consumer confidence is low or if they are not moving into homes. If this happens it could be another clear indication that the construction industry is starting to wane.
Consumer spending and confidence will definitely influence how the construction industry is being impacted.When the economy is thriving and people have money to spend they will need more housing. When a lot of people are moving into homes this will improve construction development of properties and jobs. As a matter of fact each single home within the U.S. produces 3 jobs and each multi-housing unit creates about 2 jobs. All of this job growth in turn will stimulate a greater increase in economic spending and housing development even in such specialties as Construction Claims Consultants and Construction Project Management
Other economic factors that will hamper the construction industry are high fuel and grocery prices and inflated unemployment rates. When consumers have to worry about paying a lot of money for necessities such as fuel for their automobiles and food for their families, trying to acquire a new place to live is probably the least of their concerns.
Unemployment is dangerous factor to the whole overall economy. Consumers who do not have jobs will not have the income to spend money. This in turn will also harm the housing market if people are not able to pay mortgages and rents. Ultimately, the construction industry will go into decline if the unemployment rate remains high over a long period of time. Ultimately, the construction industry is so connected to other parts of the economy and if one of the major factors fail then workers will suffer in this field.
Admin1 July 12th, 2014
Posted In: Uncategorized
There are few things in life more fun than giving a dog a bath. Unless, of course, you add that the dog, Bingo, is 100 pounds plus with approximately 20 pounds of fur that she refuses to allow you to brush. She is sporting dreadlocks and it is very warm here so unfortunately for all involved it was that time. Now, I would never think of trying this at home. She’s a tad on the crazy side and doesn’t like water. So we set out to the doggy spa with myself, my 100 pound dog trying her best to sit with me in the driver’s seat, and my 4 year old son, Aden, squealing in delight in the backseat after a futile attempt to leave him home.
After a rather long 10 minute car ride we, thankfully, arrive. I am now sporting a coat of golden red fur and smell oddly like the backyard. Aden gets out of the car relatively easily and then it is Bingo’s turn. Did I mention Bingo is eight, but still has not mastered walking with a leash? The leash that my 40 pound son seems determined to hold on to, while knocking my hand off of it, because that is sure to result in my breaking a sweat, cussing my son out in my head, and screaming various threats regarding the dog’s life as she gallivants across the parking lot in a game of chase only she and Aden want to participate in. Thankfully, my little lady is fat, lazy, and is not fond of the heat (ask her about her doghouse fan) and sits down pretty quickly. I grab the leash, grab Aden, and attempt to get her to walk back to the spa, but she refuses and I end up dragging her while she acts likes choking (She’s a bit of a drama queen.) and I am threatening both her and Aden in front of all that have stopped to watch. Finally, we arrive at the door for the real fun, but that is a whole different experience in itself.
Admin1 July 11th, 2014
Posted In: Uncategorized