Construction
In the United States, the industry has around $850 billion in annual revenue according to statistics tracked by the Census Bureau, with an $857 billion annual rate, of which $600 billion is private (split evenly between residential and nonresidential) and the remainder is government. There are about 667,000 firms employing 1 million contractors (200,000 general contractors, 38,000 heavy, and 432,000 specialty); the average contractor employs fewer than 10 employees. As a whole, the industry employs an estimated 5.8 million. A salary survey revealed the differences in remuneration between different roles, sectors and locations in the construction and built environment industry. The results showed that areas of particularly strong growth in the construction industry, such as the Middle East, yield higher average salaries than in the UK for example. Despite adverse economic conditions, the global construction industry has witnessed growth during the past five years and the market is forecast to reach US $8,929 billion with a CAGR of 7.3% over the next five years. The Construction industry consists of establishments primarily engaged in the construction of residential construction, commercial buildings, and infrastructural projects. The industry also includes additions, alterations, maintenance, and repairing activities. The industry is highly fragmented in terms of suppliers and buyers and highly dependent on consumer spending, interest rates, and government spending in different countries.