The need for construction workers continues to rise, it seems. That’s according to the most recent Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS), which shows the count of open, unfilled positions in the construction industry having increased in July.
The number of open jobs for the overall economy decreased from 7.36 million in June to 7.18 million in July. The National Association of Home Building (NAHB) points out that the July reading was notably lower than the 7.5 million estimate from a year ago, reflecting what NAHB officials suggest is an overall cooling of the U.S employment market.
Meanwhile, the number of open construction sector jobs increased from a revised 242,000 in June to 306,000 in July, also up significantly from a year ago (229,000), running counter to the national trend, NAHB officials say. The construction job openings rate increased to 3.5% in July, higher than the 2.7% estimated a year ago. The layoff rate in construction increased to 2.8% in July, the highest rate since March 2023. The quits rate declined to 0.9% in July, the lowest recorded for the construction sector since data collection began in 2000.
The construction market appears to have experienced considerable churn in July, with job openings rising, quits low and layoffs increasing.