The US construction industry is projected to grow at a 4% CAGR through 2028, reaching about $2.5 trillion. In 2023, total construction spending hit $2.1 trillion while construction inflation averaged 4.1%. Recent momentum comes with pressure on costs and workforce capacity as residential and nonresidential demand shift and backlog remains near $1.1 trillion.
Key Takeaways
- US construction spending reached $2.1 trillion in 2023
- Construction industry GDP contribution was 4.2% of total US GDP in 2023 amounting to $1.12 trillion
- Nonresidential construction spending grew by 7.5% year-over-year in Q4 2023
- US construction employment reached 8.1 million in peak 2023
- Construction unemployment rate averaged 4.0% in 2023
- Average hourly earnings in construction $35.50 in 2023
- US construction industry to grow 4% CAGR to 2028 reaching $2.5 trillion
- Residential construction forecast +2.5% growth 2024
- Nonresidential to expand 5% in 2024 led by manufacturing
- Residential construction spending totaled $900 billion in 2023
- Nonresidential buildings construction $450 billion in 2023
- Single-family housing starts 950,000 units valued at $250 billion in 2023
- Fatalities in construction totaled 1,056 in 2022
- Nonfatal injuries 148,000 cases requiring days away in construction 2022
- Construction injury rate 2.0 per 100 full-time workers in 2022
US construction hit $2.1 trillion in 2023, with growth led by nonresidential projects despite still-rising costs.
Related reading
01 · Category
Economic Indicators30 stats
01
US construction spending reached $2.1 trillion in 2023
02
Construction industry GDP contribution was 4.2% of total US GDP in 2023 amounting to $1.12 trillion
03
Nonresidential construction spending grew by 7.5% year-over-year in Q4 2023
04
Residential construction put in place value was $902 billion in 2023
05
Total construction backlog stood at $1.1 trillion in mid-2023
06
Construction sector inflation rate was 4.1% in 2023 compared to overall CPI of 3.4%
07
Public construction spending increased 12% to $450 billion in 2023
08
Private construction spending totaled $1.65 trillion in 2023
09
Manufacturing construction spending surged 76% since 2021 to $200 billion in 2023
10
Highway construction spending hit $52 billion in 2023
11
Construction cost index rose 5.8% in 2023 per Turner Building Cost Index
12
US construction output grew 6.8% in real terms in 2023
13
Single-family housing starts value was $250 billion in 2023
14
Multifamily construction spending reached $100 billion in 2023
15
Commercial construction put in place was $300 billion in 2023
16
Institutional construction spending totaled $150 billion in 2023
17
Heavy civil construction value was $200 billion in 2023
18
Construction industry added $200 billion in value-added in 2023
19
Regional construction spending highest in South at $700 billion in 2023
20
Northeast construction spending $400 billion in 2023
21
Midwest construction $350 billion, West $450 billion in 2023
22
Construction productivity growth lagged at 1% annually 2018-2023
23
US construction market size projected $1.9 trillion in 2024 nominal terms
24
Dodge Momentum Index rose 10% in Q1 2024 signaling growth
25
Construction input prices up 2.5% YoY in Jan 2024
26
ENR Construction Cost Index increased 4.2% in 2023
27
Bid prices for construction projects up 5% in 2023
28
Construction spending per capita $6,300in 2023
29
Federal construction outlays $100 billion in FY2023
30
State and local construction spending $350 billion in 2023
Interpretation
Economic Indicators Interpretation
America is frantically, and quite expensively, trying to rebuild its foundation, house its people, and retool its factories all at once, proving that progress is a messy and very high-stakes renovation project.
02 · Category
Employment Statistics30 stats
01
US construction employment reached 8.1 million in peak 2023
02
Construction unemployment rate averaged 4.0% in 2023
03
Average hourly earnings in construction $35.50in 2023
04
Construction added 250,000 net new jobs in 2023
05
7.5 million wage and salary workers in construction in 2023
06
Self-employed construction workers numbered 1.2 million in 2023
07
Labor force participation in construction 65% in 2023
08
Construction job openings averaged 400,000 per month in 2023
09
Quit rate in construction 2.5% monthly average 2023
10
Hires rate 5.0% in construction 2023 average
11
Construction supervisors employment 1 million in 2023
12
Carpenters numbered 835,000 in construction workforce 2023
13
Electricians in construction 650,000 employed 2023
14
Laborers and helpers 1.1 million in 2023
15
Operating engineers 400,000 in construction 2023
16
Painters and paperhangers 350,000 employed 2023
17
Plumbers and pipefitters 450,000 in 2023
18
Roofers 120,000 employed in construction 2023
19
Sheet metal workers 140,000 in 2023
20
Structural iron workers 70,000 employed 2023
21
Construction managers 500,000 in workforce 2023
22
Women in construction 11% of workforce or 900,000 in 2023
23
Hispanic workers 30% of construction labor force in 2023
24
Veterans comprise 15% of construction workforce numbering 1.2 million in 2023
25
Apprentices in construction programs 250,000 active in 2023
26
Construction labor shortage estimated 500,000 workers in 2023
27
Average construction worker age 42.5 years in 2023
28
Entry-level construction wages up 6% to $25/hour in 2023
29
Overtime hours in construction averaged 3.5 hours/week in 2023
30
Union membership in construction 12.5% or 1 million workers in 2023
Interpretation
Employment Statistics Interpretation
The construction industry is booming with high employment and wages, yet it's desperately trying to build its future workforce while leaning heavily on its experienced, aging backbone.
03 · Category
Forecasts and Trends20 stats
01
US construction industry to grow 4% CAGR to 2028 reaching $2.5 trillion
02
Residential construction forecast +2.5% growth 2024
03
Nonresidential to expand 5% in 2024 led by manufacturing
04
Infrastructure spending to add $1.2 trillion by 2030
05
Data centers to drive $100 billion annual construction 2024-2028
06
Semiconductor plants 20 new projects $200 billion by 2030
07
Renewable energy construction $150 billion annually by 2025
08
Housing shortage 4 million units needing 1.5 million starts/year to 2030
09
Labor shortage to peak 546,000 workers by 2024
10
Prefab/modular market to $200 billion by 2030 10% CAGR
11
BIM software market in construction $12 billion by 2028
12
Sustainability retrofits $400 billion market 2024-2030
13
Construction robotics market $10 billion by 2028
14
3D printing in construction to $50 billion by 2030
15
AI in construction productivity gains 20-30% by 2030
16
Decarbonization investments $1 trillion needed by 2030
17
Supply chain digitalization 50% adoption by 2027 reducing costs 15%
18
Aging workforce retirement 25% by 2030 needing 1 million new workers
19
Urbanization drives 60% construction growth in cities to 2030
20
Reshoring manufacturing adds $300 billion construction by 2030
Interpretation
Forecasts and Trends Interpretation
America is attempting to build its way out of multiple crises at once, from housing shortages and an aging grid to the demands of AI and reshoring, all while racing against a clock of worker shortages and the need to decarbonize.
More related reading
04 · Category
Project Types and Spending25 stats
01
Residential construction spending totaled $900 billion in 2023
02
Nonresidential buildings construction $450 billion in 2023
03
Single-family housing starts 950,000 units valued at $250 billion in 2023
04
Multifamily starts 400,000 units $100 billion spending in 2023
05
Office building construction $80 billion in 2023
06
Retail construction spending $50 billion in 2023
07
Warehouse and distribution centers $120 billion in 2023
08
Manufacturing facilities construction $200 billion boom in 2023
09
Healthcare construction $70 billion in 2023
10
Educational buildings $60 billion spending 2023
11
Highway and street construction $52 billion in 2023
12
Bridge construction $25 billion federal aid in 2023
13
Airport construction $15 billion in 2023
14
Water supply and sewage $40 billion in 2023
15
Power plant construction $50 billion renewables focus 2023
16
Data center construction spending $30 billion in 2023
17
Hotel construction $20 billion starts in 2023
18
Renovation and remodeling market $450 billion in 2023
19
Green building projects 40% of new construction value $800 billion in 2023
20
Infrastructure bill IIJA allocated $550 billion new spending over 5 years starting 2023
21
Semiconductor fabs construction $50 billion in 2023
22
EV charging stations $7.5 billion planned under NEVI 2023 starts
23
Broadband infrastructure $42 billion BEAD program construction begins 2023
24
Affordable housing construction 200,000 units $50 billion in 2023
25
Historic preservation spending $10 billion tax credits 2023
Interpretation
Project Types and Spending Interpretation
America's wallet, with a straight face, just spent $900 billion making new homes while simultaneously laying the infrastructure for a greener, more connected, and chip-rich future, all while renovating the kitchen.
05 · Category
Safety and Productivity24 stats
01
Fatalities in construction totaled 1,056 in 2022
02
Nonfatal injuries 148,000 cases requiring days away in construction 2022
03
Construction injury rate 2.0 per 100 full-time workers in 2022
04
Falls to lower level caused 38% of construction fatalities in 2022
05
Struck-by objects 10% of construction deaths 2022
06
Caught-in/between 12% fatalities in construction 2022
07
OSHA citations issued 15,000 to construction firms in FY2023
08
Leading violation scaffolds 2,800 citations in construction 2023
09
Ladders violations 2,500 in construction FY2023
10
Fall protection standard 6,400 violations construction 2023
11
Construction productivity 1% annual growth 1995-2023 lagging other sectors
12
Modular construction boosts productivity 20-50% on projects
13
BIM adoption in large projects 70% improving productivity 15%
14
Prefabrication used in 25% of projects reducing schedule 25%
15
Construction waste generation 160 million tons annually 2023
16
Recycling rate for construction debris 76% in 2023
17
Heat-related illnesses 3,000 cases in construction 2023
18
Silica exposure violations 1,200 in construction FY2023
19
Crane incidents 80 fatal in 2022 construction
20
Trench collapse deaths 30 annually average 2018-2023
21
Lost time incident rate 1.5 per 200,000 hours in construction 2023
22
Safety training hours average 40 per worker annually 2023
23
Digital safety tech adoption 40% firms reducing incidents 20%
24
Construction output to peak at 2.2 million jobs equivalent productivity 2025
Interpretation
Safety and Productivity Interpretation
The grim reality is that while construction's future is being built with digital tools and modular efficiency, its present remains stubbornly anchored to the same old, deadly hazards, proving that no amount of productivity gains can outpace the human cost of neglecting fundamental safety.
Reference
Cite This Report
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APA
Karl Becker. (2026, February 13). Us Construction Statistics. Gitnux. https://gitnux.org/us-construction-statistics
MLA
Karl Becker. "Us Construction Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/us-construction-statistics.
Chicago
Karl Becker. 2026. "Us Construction Statistics." Gitnux. https://gitnux.org/us-construction-statistics.
Sources & references
41 datasets cited across this report · attribution is report-level