Construction Job Openings Plummet to 10-Year Low, ABC Reports Sharp Industry Slowdown
The construction industry reported just 188,000 job openings in August—the lowest level in over a decade—as hiring and spending continue to decline, according to an Associated Builders and Contractors analysis.
Table courtesy of ABC
Photo courtesy of ABC
The U.S. construction industry reported 188,000 job openings at the end of August, marking the lowest level in more than a decade, 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 an unfilled position for which an employer is actively recruiting. The number of available construction jobs fell by 115,000 from July and 116,000 year over year, signaling a sharp slowdown in hiring demand.
“Construction job openings plunged in August, falling to the lowest rate in over a decade,” said ABC Chief Economist Anirban Basu. “While this data series can fluctuate month to month, the steep drop in openings aligns with other indicators—such as construction spending and employment—which have also declined in recent months. Contractors remain cautiously optimistic about the next six months, according to ABC’s Construction Confidence Index, but the latest data makes it clear that the industry is currently contracting.”
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