JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings increased by 56,000 in September but are down by 35,000 from the same month of 2022.
“The number of open, unfilled construction positions surged in September and currently stands at the highest level since December 2022,” said ABC Chief Economist Anirban Basu. “This mirrors an increase in economywide job openings, which, at 9.6 million, remains about 37% higher than at the start of the COVID-19 pandemic.
“There are, however, some signs of labour market improvement for contractors,” said Basu. “The rate at which construction workers are quitting their jobs has normalised, with just 1.8% leaving their employers in September. While that’s a welcome development, labour shortages remain a pressing issue for the industry. Contractors laid off or discharged just 1.9% of workers in September, down from 2.2% in August and 2.5% in September 2022. With a majority of contractors planning to increase their staffing levels over the next six months, according to ABC’s Construction Confidence Index, labour shortages will remain a pressing issue heading into 2024.”
Associated Builders and Contractors (ABC) is a national construction industry trade association established in 1950 that represents more than 22,000 members. Founded on the merit shop philosophy, ABC and its 68 chapters help members develop people, win work and deliver that work safely, ethically and profitably for the betterment of the communities in which ABC and its members work.