The construction industry had 326,000 job openings on the last day of July, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings increased by 28,000 last month and are up by 21,000 from the same time last year.
“The construction job opening rate rose to the highest level in nearly two years in July,” said ABC Chief Economist Anirban Basu. “Contractor hiring also accelerated for the month, while layoff activity slowed. This meaningful improvement in labor demand is a function of insatiable demand for data centers and the accompanying strength in power-related construction.
“With contractors broadly optimistic about expanding their staffing levels over the next six months, according to ABC’s Construction Confidence Index, it’s possible that reemerging worker shortages will put upward pressure on labor costs over the next several months.”
