More than 2 million construction industry workers were fired from their jobs in 2023, the second most of any industry, according to new research.
According to the Bureau of Labor Statistics (BLS), the construction industry consists of carpenters, construction laborers, construction managers, electricians, plumbers, and other workers who assist in the construction of buildings or engineering projects.
Rising interest rates led to a slowdown in new building projects in 2023, which can help explain the high volume of layoffs in the construction industry.
The analysis by TollFreeForwarding.com found the construction industry to have a termination rate of 2.2 percent, the second-worst rate of any industry.
The only industry with more terminations in 2023 was the professional and business services industry, which saw more than 4.6 million terminations last year. Industries with the fewest firings include mining and logging (82,000), the federal government (86,000) and real estate (266,000).
TollFreeForwarding.com also looked into the most common reasons for terminating employees. According to one poll, which asked managers for the reason they last fired an employee, the most common reasons for termination include:
- Attitude issues: 57 percent
- Personality issues: 41 percent
- Job performance: 40 percent
- Violation of company policies: 31 percent
- Requested a raise: 23 percent
For more information on the industries with the most terminations, visit TollFreeForwarding.com.
