The number of open positions in the construction sector fell back in August per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The current level of open jobs is down from three years ago due to declines in construction activity, particularly in housing. Nonetheless, strength in construction for subsectors like data center construction (up 46% year-over-year) is creating demand for construction workers. Further, increasing immigration enforcement actions is having an effect on worker availability, which is also contributing to the number of open positions.
The number of open jobs for the overall economy fell back in August, declining to 7.08 million. The August reading was lower than a year ago (7.34 million). Despite the decline, national job openings remaining in the 7 million range indicates that the labor market remains resilient to recent macro challenges, including higher energy prices.
The number of open construction sector jobs declined for the month, decreasing slightly from 299,000 in July to 251,000 in August. This total is higher than the total from a year ago (213,000). The chart below notes a declining trend for the construction job openings rate from 2023 to 2025 (after Fed tightening monetary policy) to a recent rising trend for open positions in construction, albeit with significant month to month noise.
While home building employment has declined over the last year, other sectors of the construction industry have expanded (e.g. data center construction). The industry also faces challenges in terms of no shows at work sites related to immigration enforcement.
The construction job openings rate declined to 2.9% in August, but is up from 2.5% from a year ago.
The construction hiring rate declined to 3.7% in August, down from the 4.1% rate estimated a year ago.
The layoff rate in construction was lower at 1.3% in August. The quits rate was flat at 2.2%.
This article was originally published by a eyeonhousing.org . Read the Original article here. .
