The global construction industry experienced a 15% drop in new job postings related to future of work in Q1 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to an 8% decrease versus Q1 2022. GlobalData’s Future of Work – Thematic Research report explains how the theme future of work is impacting the workforce across different sectors, it presents key technology, macroeconomic and regulatory trends, market size and growth forecasts for technologies that will play a key role in the theme. Buy the report here.
Notably, Architecture and Engineering Occupations jobs accounted for a 21% share of the global construction industry’s future of work-related total new job postings in Q1 2023, down 9% over the prior quarter.
Architecture and Engineering Occupations drive future of work-related hiring activity
Architecture and Engineering Occupations, with a share of 21%, emerged as the top future of work-related job roles within the construction industry in Q1 2023, with new job postings drop by 9% quarter-on-quarter. Management Occupations came in second with a share of 9% in Q1 2023, with new job postings dropping by 22% over the previous quarter.
The other prominent future of work roles include Computer and Mathematical Occupations with an 8% share in Q1 2023, Installation, Maintenance, and Repair Occupations with a 8% share of new job postings.
Top five companies in construction industry accounted for 26% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q1 2023 were Black & Veatch, CDM Smith, Eaton, Honeywell International, and ABB. Together they accounted for a combined share of 26% of all future of work-related new jobs in the construction industry.
Black & Veatch posted 3,407 future of work-related new jobs in Q1 2023, CDM Smith 1,805 jobs, Eaton 1,728 jobs, Honeywell International 1,442 jobs, and ABB 1,339 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 69.09% share of total new job postings, Q1 2023
The largest share of future of work-related new job postings in the construction industry in Q1 2023 was in the US with 69.09% followed by India (6.84%) and the UK (4.18%). The share represented by the US was 0 percentage points lower than the 69.27% share it accounted for in Q4 2022.
For further understanding of GlobalData's Future of Work – Thematic Research buy the report here.