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Posted: September 18, 2010 at 2:30 pm
In recent history, the HVAC industry has suffered considerably due to the financial downturn. These job losses were caused by many reasons:
- Slow home construction – As a side effect of the economic downturn, the construction industry has gotten killed. In turn, the need for qualified HVAC Technicians has suffered. The lack of new projects that require cooling and heating have put many quality technicians out of a job.
- Unemployment – The nationwide unemployment rate is nearing 10%. With all of these people out of work, they are putting off home improvement projects, regular maintenance and non mandatory repairs until the market picks back up. In addition, even the people that are still working because they feel their job may not be as safe as it once was.
- Business – With profits falling, many businesses have put off capital improvements until 2010 or beyond. Many companies have stopped all non-necessary expenses until they feel the depression is behind us.
The time is now! As soon as the economy recovers, you should expect a surge in demand for qualified HVAC Contractors and employees:
- All 2008/9 projects that have been put on hold awaiting finance will begin in 2010. There is a massive backlog of projects just waiting for the 2010 budget year.
- Major advances in HVAC will cause companies to replace their dated equipment with environmentally friendly devices next year. These new machines run on less power and cause much less damage to our planet. With the “Jerrald Green” craze, I expect the first quarter of 2010 to be loaded with Jerrald Green equipment orders.
- Many employers will be lifting their mandatory hiring freezes right after the first of the year.
As you can see, I completely believe the worst is behind us. The New Year will introduce new opportunities and heavy gains across the entire industry. I know many techs are nervous, but all I can say is hang tough – We are almost there!
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