Hardware Retailing The Industry's Source for Insights and Information
The number of open positions in the construction sector dropped in August, according 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, while 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, according to the National Association of Home Builders.
The number of open jobs for the overall economy fell in August, declining to 7.08 million, lower than August’s reading a year ago. 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 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%.
