City Construction Spending Down, Employment Up
Construction spending in NYC fell this year and is expected to drop even further next year, mostly because government construction projects are down. Interestingly, however, Reuters reports that employment in the construction sector is up this year, though expected to fall slightly next year.
There are no indications how these fluctuations affect job safety, but it makes sense that if there are fewer construction projects, there could be an effect on the number of New York construction accidents.
According to the Bureau of Labor Statistics, there was a large decline in the number of cases where construction and extraction workers had to miss work due to injuries. In 2010, the last year for which data was available, that number fell 17%, accounting for a large percentage of the drop in injuries in all workforce sectors.
In 2011, 53% of NYC construction spending was from the government sector. So, when the government stops spending, or at least slows construction spending, the entire construction sector will feel the change. From 2010, the amount that government spent on NYC construction fell 10%, from $16.1 billion to $14.4 billion.
Private and residential construction, however, rose this year and is expected to rise again next year, with residential construction beating the 2007 record of $6.4 billion by reaching a projected $6.8 billion.
If the economy improves, government construction could climb again, changing the negative projections.
When governments don’t have money, they have to cut back on new construction. And the current economic situation has caused government at every level (local, state, and national) to cut spending.
There are certain expenses that cannot be spared on a construction site. Fewer projects might mean fewer accidents, but only if safety standards are strictly adhered to regardless of the budget and project timeline. At the Ginarte Law Firm, we know that sometimes New York construction site employers and contractors forgo safety in order to speed a project along. If you are injured because safety was sacrificed for speed, we may be able to help.
Having represented numerous accident victims on a variety of New York construction accident cases, we know what you are up against and are prepared to fight for your best interests.
Call our offices today by calling 888-GINARTE or contact us online for a free consultation. We don’t get paid unless you do, so the call is risk-free.