The U.S. Bureau of Labor Statistics’ Job Opening and Labor Turnover Survey shows the construction industry registered 459,000 job openings in November 2023, which is up by 43,000 from October 2023 and up by 111,000 from November 2022, according to Associated Builders and Contractors. The survey defines a job opening as any unfilled position for which an employer is actively recruiting.
Construction workers quit at a faster rate than they were laid off; the quit rate in November 2023 was 2.2%, and the layoff/discharge rate was 2.1%.
“The number of open, unfilled construction positions increased to the highest level since the end of 2022,” said ABC Chief Economist Anirban Basu. “November’s 5.4% job opening rate is higher than at any point from the start of the data series in 2000 to the end of 2021. Contractors continue to grapple with skilled labor shortages even as the demand for and supply of labor in the broader economy rebalances.
“Contractors are facing severe labor shortages in regions that are home to industrial megaprojects,” Basu continued. “Projects in Arizona and South Carolina, for instance, have paused in recent months due to an inability to find enough skilled workers. As construction spending in manufacturing and infrastructure subsectors continues to surge in the coming months, labor shortages should remain a top concern for the construction industry.”
