Hardware Retailing The Industry's Source for Insights and Information
The number of open positions in the construction sector increased in May, according to the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The current level of open jobs is down measurably from three years ago due to declines in construction activity, particularly in housing. Recent gains for nonresidential construction have increased demand for construction labor, although they have not fully offset the weakness present in the residential construction sector, according to the NAHB.
The number of open jobs for the overall economy was flat in May, remaining near 7.59 million. The May reading was also measurably higher compared to a year ago (7.31 million).
The number of open construction sector jobs increased for the month, rising slightly from 266,000 in April to 298,000 in May. This total was higher than 222,000 open construction jobs a year ago.
The construction job openings rate increased to 3.5% in May, up from the 2.6% rate estimated a year ago. The layoff rate in construction increased to 2.1% in May. The quit rate fell back 1.3% for the month.
