Construction filled more hard hats in October, as the total job openings dropped by 52,000 from a month earlier to 371,000, or 21,000 fewer vacancies than in October 2021, according to an analysis of Bureau of Labor Statistics data by Associated Builders and Contractors (ABC). — Construction Dive
The U.S. Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS) program defines a job opening as any unfilled position for which an employer is actively recruiting. While October's reading is promising, given a looming recession and labor shortages, 4.6% of all construction positions remain unfilled, which is more than at any point from when this data started to be gathered in 2000 through 2018.
However, on a brighter note, the number of workers who quit their job across all sectors fell to its lowest level since May 2021. The Associated Builders and Contractors anticipate increasing construction industry job openings even as the U.S. economy weakens.
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