The construction industry had 350,000 job openings on the last day of August, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings decreased by 3,000 last month but are up by 5,000 from the same time last year.
“The number of open, unfilled construction positions declined in August but remains higher than both one year ago and the pre-pandemic level,” said ABC Chief Economist Anirban Basu. “Despite the year-over-year increase, the rate at which construction workers are quitting has slowed dramatically as labor constraints ease in other industries that compete for the same workers. With a majority of contractors looking to expand their staffing levels over the next six months, according to ABC’s Construction Confidence Index, any improvements in the labor supply will help contractors keep project costs under control.”
Visit abc.org/economics for the Construction Backlog Indicator and Construction Confidence Index, plus analysis of spending, employment, job openings and the Producer Price Index.