New LinkedIn data reveals construction is the fastest-growing industry for new college graduates.
Other skilled trades are also rising, with utilities in second place, and oil, gas, and mining in third.
LinkedIn’s head of economics said a slowdown in hiring is expected to hit the construction industry.
Don’t be surprised if you start seeing “day-in-the-life” videos of construction workers pop up on your feed — the industry is having a moment.
LinkedIn released data on Wednesday that reveals construction is the fastest-growing industry for new college grads. Other skilled trades are also on the rise among entry-level workers, with utilities coming in second place and oil, gas, and mining in third.
“Construction is topping the list,” LinkedIn head of economics Kory Kantenga shared at a company event on Tuesday. “Construction has had a really good few years.”
Kantenga said that momentum in construction is driven by the Inflation Reduction Act. The IRA provides tax incentives for clean energy and energy-efficient investments, which could lead to more projects. The initiative also resulted in improved wages for clean energy workers.
Growth in the industry is also a result of high interest rates for mortgages, which has led to fewer people selling their houses, and increased interest in building homes, Kantenga said.
Growth in oil, gas, and mining among entry-level workers is likely tied to migration toward the Sunbelt, specifically Texas, Kantenga said.
“As the nation’s top oil producer, Texas has drawn many entry-level workers since the pandemic, thanks to its lack of state income tax, lower cost of living, and milder weather compared to northern coastal regions,” Kantenga said.
New opportunities in skilled trade industries may also be a result of the AI boom. Efforts to develop AI have led to increased demand for energy infrastructure and policies.
Google recently wrote in a blog post that there’s a “demand for trade skills that can construct electrical infrastructure.” The tech giant announced in the post that it would support an effort to train 100,000 electrical workers and 30,000 apprentices in the US.
“A shortage of electrical workers may constrain America’s ability to build the infrastructure needed to support AI, advanced manufacturing and a shift to clean energy,” the announcement said.
While college degrees aren’t required to work in many skilled-trade industries, a job in construction or mining doesn’t necessarily mean working in a position on the ground. For example, those graduating with law degrees might not be considering construction, but there are also opportunities for legal roles in the field, Kantenga said.
