Alex Carrick, chief economist for CanaData, Construction Market Data Group Inc.'s Canadian economic forecasting and statistical service, has posted an economist's formula for the often asked question, "How much extra employment will be created with amplified infrastructure spending programs?"
Carrick says the employment effect of 5,000 construction jobs per $1 billion is vastly understated.
Carrick's article looks at both the number of on-site jobs as well as the jobs created in supporting industries such as manufacturing, trucking, engineering, equipment repair, and legal services, etc.
The figures he uses are broad but still a good basis for discussion. Read Carrick's Jobs per $1 Billion of Infrastructure Construction … and the Wall.
As he says, "It really is all rather mind-boggling."