Data taken from the latest American Institute of Architects (AIA) report shows a continued decrease in the demand for design services industry-wide in November as economic concerns for the new year loom.
The new Architecture Billings Index (ABI) score for the month was 46.6, down from October’s 47.7 figure (a score below 50 indicates a decline). New project inquiries managed to stay above the threshold with a score of 52.0, while the requisition of new contacts dipped slightly to a score of 46.9.
“Given the slowdown in new project work, many architecture firms will rely on their near record levels of backlogs to support revenue,” said the AIA's Chief Economist, Kermit Baker, Hon. AIA, PhD. “Still, firm leaders remain largely optimistic about future business trends. Almost two-thirds of architecture firms project that 2023 will be either a good year or great year for their firm.”
Archinect Jobs, the industry-leading architecture job board, has seen elevated hiring activity throughout the year. Take a look at the extensive list of opportunities or post your firm's openings now. To browse thousands of job seeker profiles and find the right candidates quickly, try Archinect's Talent Finder service.
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