The global construction industry experienced a 7% drop in new job postings related to future of work in Q4 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 28% decrease versus Q4 2022. GlobalData’s Construction: Hiring Trends & Signals Q4 2023 report reveals comprehensive insights into hiring patterns, job roles, required skills, geographical trends, and key themes within the construction industry, facilitating anticipation of future workforce needs. Buy the report here.
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Notably, Architecture and Engineering Occupations jobs accounted for a 20% share of the global construction industry’s future of work-related total new job postings in Q4 2023, up 7% over the prior quarter.
Architecture and Engineering Occupations drive future of work-related hiring activity
Architecture and Engineering Occupations, with a share of 20%, emerged as the top future of work-related job roles within the construction industry in Q4 2023, with new job postings rising by 7% quarter-on-quarter. Management Occupations came in second with a share of 13% in Q4 2023, with new job postings rising by 2% over the previous quarter.
The other prominent future of work roles include Computer and Mathematical Occupations with a 10% share in Q4 2023, Installation, Maintenance, and Repair Occupations with a 7% share of new job postings.
Top five companies in construction industry accounted for 42% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q4 2023 were AECOM, ABB, Jones Lang LaSalle, Honeywell International, and KION Group. Together they accounted for a combined share of 42% of all future of work-related new jobs in the construction industry.
AECOM posted 6,241 future of work-related new jobs in Q4 2023, ABB 1,513 jobs, Jones Lang LaSalle 1,318 jobs, Honeywell International 1,282 jobs, and KION Group 988 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 56.00% share of total new job postings, Q4 2023
The largest share of future of work-related new job postings in the construction industry in Q4 2023 was in the US with 56.00% followed by India (7.45%) and the UK (7.40%). The share represented by the US was three percentage points lower than the 59.39% share it accounted for in Q3 2023.
For further understanding of GlobalData's Construction: Hiring Trends & Signals Q4 2023, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Jobs Analytics uses machine learning to uncover key insights from tracking daily job postings for thousands of companies globally. Proprietary analysis is used to group jobs into key thematic areas and granular sectors across the world’s largest industries. classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
