Culture
Architecture Revenue Down 40% Since 2008
The industry has contracted, and adapted.
All industries contracted during the recession, but few shrank as dramatically as architecture. Between 2008 and 2011, gross revenue at architecture firms fell from over $44 billion to $26 billion. More than 28 percent of positions disappeared.
These are some of the startling revelations to be found inside the American Institute of Architects 2012 Firm Survey, released this week. The survey compiles data from several thousand architecture firms, and its most intriguing conclusion turns out not to be that the industry has contracted, but rather how it's adapted, and what that means for the rest of us.