The construction industry had 298,000 job openings on the last day of May, according to a new analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS) by Associated Builders and Contractors (ABC). JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings increased by 32,000 last month and were up by 76,000 compared to the same time last year.
“Construction job openings rose to a 10-month high in May,” said ABC Chief Economist Anirban Basu. “Unfortunately, that increase likely reflects exceptional demand for certain occupations critical to data center buildouts, like electricians, rather than increased industrywide demand for labor.
“The construction hiring rate fell sharply in May and, at 3.5%, matched February’s all-time low,” Basu noted. “Rising layoff activity and a falling quit rate also suggest that demand for construction labor weakened in May. Despite these signs, contractors remain optimistic about growing their staffing levels, according to ABC’s Construction Confidence Index.”
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.
About Associated Builders and Contractors
Associated Builders and Contractors (ABC) is a national construction industry trade association established in 1950 with 67 chapters and 24,000 members. Founded on the merit shop philosophy, ABC helps members offer a robust employee value proposition, develop people, win work, and deliver that work safely, ethically and profitably for the betterment of the communities in which ABC and its members work.
