Further analysis of the Bureau of Labor Statistics’ (BLS) August Job Openings and Labor Turnover Survey (JOLTS), provided by the National Association of Home Builders (NAHB) with a look specifically on the construction sector, reveals that overall, the number of open construction jobs held steady in August.
Hiring in the construction sector remained substantial in August, increasing to a rate of 5.1%. The post-virus peak rate of hiring occurred in May 2020 (10.3%) as a rebound took hold in home building and remodeling. Hiring has generally slowed since that time, except for a weather-related rebound in March 2021.
Construction sector layoffs in August were at a 2.1% rate. In April 2020, the layoff rate was 10.9%. Since that time, however, the sector layoff rate has been below 3% — apart from February 2021 due to weather effects.
The job openings rate in construction moved lower to 4.4% in August, with 344,000 open positions in the sector. This is higher than the 250,000 count recorded a year ago.
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Stable Conditions for Construction Job Openings