Construction Job Opening Rate Falls to Lowest Level in Nearly a Decade, Says ABC
The construction industry had 188,000 job openings on the last day of August, 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 decreased by 115,000 last month and are down by 116,000 from the same time last year.
“Construction job openings plunged in August, falling to the lowest rate in nearly a decade,” said ABC Chief Economist Anirban Basu. “While this data series tends to be volatile on a month-to-month basis, the precipitous decline in job openings aligns with other indicators like construction spending and employment, both of which have fallen in recent months. Contractors remain relatively optimistic about the next six months, according to ABC’s Construction Confidence Index, yet recent data has made it abundantly clear that the construction industry is currently contracting.”
