The U.S. Bureau of Labor Statistics’ Job Opening and Labor Turnover Survey shows the construction industry registered 350,000 job openings in August, which is down by 3,000 from July but up by 5,000 from August 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 or discharged; the quit rate in August was 2.1%, and the layoff/discharge rate was 2%.
“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.”
