2024 Q4 Analysis of A/E Services

The Census Bureau released its Quarterly Services Survey (QSS) for the 4th Quarter of 2024. This data includes revenue for the design and engineering services performed by architecture and engineering companies.

A/E firm services revenue grew significantly at the end of the year, with total seasonally adjusted A/E firm revenues at $124.3 billion for the 4th quarter of 2024. This represents an 11.7% increase year over year and a 4.2% increase quarter over quarter. This is the first time since Q4 of 2022 that the industry saw double-digit growth in revenues.

 

Source: US Census, Quarterly Services Survey, March 2025 Release

The Bureau of Labor Statistics’ Current Employment Statistics (CES) show similar trends in the most recent ‘Architectural, engineering, and related services’ employment data. A/E firm employment ended the year up 3.2% to a total of 1.73 million employed in the industry. This growth in employment reverses a slowdown in hiring that began towards the end of last year.

Source: US Bureau of Labor Statistics, Current Employment Statistics, March 2025