The construction industry reported 248,000 job openings at the end of July, marking a decrease of 51,000 from the previous month, according to an Associated Builders and Contractors (ABC) analysis of data from the U.S. Bureau of Labor Statistics' Job Openings and Labor Turnover Survey (JOLTS). This drop contributes to a total decline of 103,000 job openings compared to July of the previous year. JOLTS defines an opening as a position actively being recruited by an employer.
"Construction job openings plunged for the second straight month in July," said ABC Chief Economist Anirban Basu. He highlighted the residential sector as a key factor in the decline. More housing units were completed in June than in any other month since 2007, while the number of units under construction has dropped by 8% since the start of the year.
Basu also noted that the nonresidential sector is facing challenges. The share of unfilled construction jobs has reached its lowest point since early 2018, with sectors such as commercial and lodging seeing diminished demand for labor. Despite the reduction in openings, layoffs remain historically low, and less than 15% of contractors expect their staffing levels to decrease in the next six months, according to ABC’s Construction Confidence Index.
