Free Industrial NewsPeak Labor Demand Looms for U.S. Gulf Coast, Despite Project Delays
Peak Labor Demand Looms for U.S. Gulf Coast, Despite Project Delays
Industry Segment: Production | Word Count: 917 Words
Attachment: U.S. Gulf Coast Craft Labor Demand, 2010-2012
SUGAR LAND--September 24, 2015--Researched by Industrial Info Resources (Sugar Land, Texas)-Industrial Info's most recent quarterly update to its Gulf Coast Labor Supply, Demand & Wage Rate Analysis continues to demonstrate that the U.S. Gulf Coast is the hottest region in the country for industrial project activity. The Gulf Coast region between Brownsville, Texas, and Pascagoula, Mississippi, has the largest concentration of future spending of anywhere in the country. Over the next five years, an estimated $284.3 billion will be spent in this region, compared to only $158.2 billion in spending from 2010 through 2014. Labor demand in the region has consistently increased since 2013 and is forecast to reach a peak of 183.5 million hours in 2017, representing growth of approximately 84% from 2013 levels.
Along with labor demand, peak project spending in the U.S. Gulf Coast region is also forecast to occur in 2017 and is estimated to be $64.1 billion that year, up from the previous forecast of $62.9 billion.
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