Record job openings in construction are showing signs of cooling off

2022-08-11T10:47:00-04:00

The number of unfilled positions in the construction industry appears to be falling, according to new figures by the Associated Builders and Contractors (ABC). June 2022 saw 334,000 unfilled positions in the sector, down 17% on the previous month, but still 4% higher than June 2021.

ABC’s analysis, using survey data derived from the U.S. Bureau of Labor Statistics, suggests that the construction industry has experienced one of the sharpest reductions in job openings across the economy in the past month. ABC believes the decline to be fuelled by rising borrowing costs, and growing fears of a recession.

“While debate regarding whether or not the United States is in recession rages on, one thing appears clear: the U.S. economy is poised to slow,” said ABC Chief Economist Anirban Basu in a statement. “What had been an economy beset largely by issue...

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Record job openings in construction are showing signs of cooling off