While the markets waited for Federal Reserve Chair Jerome Powell to drop interest rates in September, the construction industry was not waiting around. Construction starts jumped 4% in the first eight months of 2024, while groundbreakings climbed 6% the last month of the summer. Experts at Dodge Construction think the momentum should continue, especially as we move to the first quarter of 2025.
Even when times are good, however, there is always something to worry about. For the vertical-transportation (VT) industry, your author believes the fact that there are more skilled workers leaving the industry than coming into it is going to be the major concern for the next several decades. In the same month that construction starts jumped, the Bureau of Labor Statistics reported that 4.3% of all construction jobs went unfilled, up 2.7% from the month prior.
Recently, I read an article by George Pfeffer, CEO of a large commercial general contractor. He wrote about his impressions when talking to a class of third graders about his work. They were eager to learn how to build something, and they would help each other and work together to do it. They clearly thought construction was cool as 9- and 10-year-olds. But, what a difference 10 years makes. A McKinsey report of 1,000 18–20-year-olds found that 74% of them had a negative perception about choosing a trade school over a traditional four-year college program. For the sake of our industry, we must change this perception. The VT industry is characterized by cutting-edge technology. Our focus this month, Remote Monitoring and Maintenance, speaks to that very subject. As we move into a new era, our industry may have to augment “manpower” with “brain power” and even AI. We have six articles on this important topic.
- Digital Twin for Machine Safety submitted by Schmersal. Schmersal showcased its 4D model for safety components for the first time at SPS in Nuremberg, Germany.
- Emerging Trends by Al Griffin. The future of compliance monitoring of elevating devices by Authorities Having Jurisdiction (AHJs) is explored in depth.
- Looking Ahead submitted by Fujitec. Fujitec becomes the first Japanese company to receive certification for elevator maintenance using advanced remote monitoring in Singapore.
- Mastering Maintenance KPIs by Sean Madden. Building effective scorecards and integrating remote monitoring can be a formula for success.
- Remote Elevator Monitoring by John Koshak. The author takes a comprehensive look at the subject.
- Safe, Secure and Informed by Neil Bullock. Nessum simplifies advanced service integration into elevators.
Our features this issue cover a U.S. event and interesting projects around the world.
- Safety Forward by Lindsay Fletcher. The annual Wisconsin Elevator Symposium offered fun experiences and education, raised funds and more.
- Alaskan Accessibility by Kaija Wilkinson. An Otis team delivers VT solutions for a growing airport serving a small island town—a project that included the town’s first escalator.
- Finding Its Niche in Denmark by Wilkinson. MinElevator brings OEMs and customers together to provide innovative, sustainable elevators for Copenhagen’s old apartment buildings.
- A Hotel Wall Painting by Peng Jie, EW Correspondent. During a third visit to Dalian, China, a painting inspires your author to pen some poignant verses.
As always, there is much more in this issue, including technical, codes and standards and environmental issues articles from around the world. We hope you enjoy the magazine this month. Want to tell me about it? Contact me at ricia@elevatorworld.com.
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