Construction Sector Hiring Recovers in May

A deeper review of the Bureau of Labor Statistic (BLS) Job Opening and Labor Turnover Survey for May, providers a clearer picture of employment in the construction industry. After suffering through significant layoffs in March and early to mid-April, hiring in the construction sector jumped back to life. In May, the construction hiring rate increased to 9.6%, after a disappointing in of 3.7% in April. The May increase was the strongest rate of hiring in the history of the BLS survey. The increase in hiring, has also resulted in an increase in the open job rate in May, to 4.9%, with an estimated 365,000 total open and unfilled construction jobs. In contrast the open job count in April was 247,000. However, when comparing May 2019 to May 2020, the current total represents a small decline of 8,000 open jobs or 373,000 in 2019, compared to 365,000 in May 2020.