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Construction Industry - Research Paper Example

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The author of this paper "Construction Industry" explores the peculiarities of the construction industry. According to the text, the industry is involved in different fields like civil engineering and architecture which consists of the assembling of the Infrastructure and buildings…
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Construction Industry

It provides employment to most of the people as its growth is often projected to increase by more than a million between the year 2002 and 2012 (Fenn 22). This improves the economy of the country as most of the people are trained in the construction industry reducing the unemployment rate in the economy of the United States. The Construction Industry is the core of all the construction locally and also internationally. Most of the structures being designed are always done by the construction company. Its effect is felt as most of the facilities are able to be constructed leading to an economy grow. An economy of a country is determined by the standing Infrastructure which is modernized. It also shows the people’s creativity and intellectual ability as it requires not the only the mind but also the skills in making it work.It is used as a tool by the government in managing the level of the economy. When there is a recession and the rate of unemployment is seen to be high the government increases the public expenditure by the use of the construction industry (Fenn 29). This completely shows its contribution to the American economy as most of the people are believed to be in this sector. The construction industry related with other economic sectors using the backward-forward linkage the forward showing its relationship of total output to inter-industry sales while the backward linkages. This is used in showing the relationship between total output and the industry purchase....
It is used as a tool by the government in managing the level of the economy. When there is recession and the rate of unemployment is seen to be high the government increases the public expenditure by the use of the construction industry (Fenn 29). This completely shows its contribution in the American economy as most of the people are believed to be in this sector. The construction industry related with other economic sectors using the backward forward linkage the forward showing its relationship of total output to inter-industry sales while the backward linkages. This is used in showing the relationship between total output and the industry purchase. Gross fixed capital is the expenditure on fixed assets including buildings and machinery among others in either replacing or adding stock of the fixed assets. This is related to investment as fixed assets are used in the production process. It is important public policy tool as it is used in creating employment and also increases the development in the U.S. This is through the central bank through which people invest in infrastructure leading to money injection in the economy. This industry contributes to a third of total investment in fixed assets in the economy. It has also led to the construction of new and better buildings like the hospital facilities, educational centre like schools. There has also been the construction of better recreational centers which are able to increase the number of people that can be accommodated in the building and also a concrete structure which can last for a longer period of time. Domestic Data in the Construction Industry Number Employed The number of personnel employed in this industry is rapid as it has a high employment ... Read More
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