Has a new Klondike opened? A new US gold rush is on the horizon, according to the new economic trends. the American economy is growing, unemployment is at an all-time low, the lowest wages are a little lower and Wall Street is at record levels; the industry employment is expected to increase at an annualized rate of 1,2% during the current period to total 100,000 workers.
If you take look at IBIS World reports they report overall U.S. construction corporate profits average 5.6% of revenues, while in the lift sector there is a real exploit: a + 6.7%, an interesting investment. Wages, incentives, structures: what is the secret of this new model? Furthermore, it is also essential to start from a fact: wages are predominantly higher in the elevator sector vs other trades.
Their recipe appears as simple as it is ambitious: the sector has sensitized blue-collar workers, technical and vocational school students and colleges aware of such job opportunity. The industry performance has trended upward as construction markets continued their recovery, the USA market is estimated to reach $24.8 billion by 2024.
Obviously education and training are two fundamental elements, without forgetting the world of business associations; for expample the National Association Of Elevator Contractors is the primary US association representing the lift industry. The Association is focused on the lift, escalator and accessibility component sector and promotes the safety and reliability of vertical transportation through training and peer connection, as well as the display of new technologies. Naec has always believed in technical discussions, debates and member participation.
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