North Dakota Steel Buildings Should Boom with Whooping growth
US journalists are frantically searching for a bright spot in the present gloomy US economy and North Dakota Steel Buildings are expected to BOOM! We all have come to know by now that North Dakota’s economy performed significantly during the recession. It’s like fresh air to breathe when we look into these reports, after clusters of bad news.
To testify these stories we referred to the EMSI’s employment data for North Dakota to scrutinize.
TRENDS IN NORTH DAKOTA
While the entire nation has witnessed a staggering downfall of 3.2% in jobs, North Dakota at the same time, not only has survived the crisis but has seen a notable 6.4% increase in the same.
The state’s growth has been remarkable during the span of 2007 to 2011. A significant growth of 181% in Mining, quarrying and oil and gas extraction, created 11,500 job opportunities during this time. This particular sector has taken a leap in economic activity by increasing the number of fresh workers and speeding-up other service oriented sectors. This wonderful illustration simply answers why “basic industries” like mining and manufacturing are so important(see here) for more discussion on the importance of basic industries). They create an in-flow of new dollars and these dollars in turn cycles in the local economy for good cause as it opens new avenues of economic opportunities. Another interesting point to note that, out of 20 there are 16 broad industry categories (2-digit NAICS) which grew from 2007 to 2011.
Likewise, let us have a quick look at the broad occupational categories for North Dakota. Naturally, construction and extraction occupations has seen the most overall growth (over 9,000 jobs and 34% growth). Out of them all, as few as three broad sectors has actually suffered a decline during the recession and just after that, spanned over the period 2007-2011.
The state’s increased population of 34,000 during 2007-2011 is surely going to be driven by these recent stories of overwhelming job opportunities. There are 509000 jobs are in offer right now in the state with an average compensation of $ 45,000 per year. This figure falls short when compared with the nation but if the stories we are hearing about job opportunities, prove to be a fact then in the coming years, we are set to witness a steep climb in earning. With growth number like these now is the time to build Steel Buildings in North Dakota.
SUPPORT ACTIVITIES FOR MINING
Now let’s introspect closely to see the specific sectors individually, where the most rapid growth and demand are taking place. “support activities for mining” (NAICS 21311) is One of the fastest-growing industries. Using Analyst, EMSI’s web-based labor market tool, it is possible for us to see lots of important detail for this sector.
In comparison with 14.5% across the nation, during 2007 -2011, support activities for mining in North Dakota grew by stunning 245.8%. Moreover, it is more concentrated in North Dakota as compared to the nation by 10 folds, and the earnings are no poor either.
HIGH DEMAND OCCUPATION: ROUSTABOUTS
In this industry, more than 20% workers are measured as roustabouts, which “assemble or repair oil field equipment using hand and power tools, and perform other tasks as needed.” This segment of stuffs are followed by service unit operators, derrick operators, rotary drill operators, and helpers/extraction workers.
In terms of growth in numbers since 2007, Roustabouts workers are leading the lot a heaping 248%. At present roughly 3,000 people are involved in this occupation with 2,400 of them working in the support activities for mining sector. Male folks in this sector are dominant factor in the ratio as they clock 94%. Usually the age category for them is 25-44 years, and 47% of these workers have a high school diploma in their kitty. They earn $21 per hour on an average.
We here at Empire Steel Buildings are ready for this growth in North Dakota. If we can help you with any of your North Dakota Steel buildings needs please call us. (858) 362-0464