Construction Job Openings to Remain High in January.

In January, the construction industry maintained a high level of job openings, totaling 413,000, as reported by the Associated Builders and Contractors (ABC) https://www.abc.org/. This analysis was derived from data provided by the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS), which defines job openings as unfilled positions actively being recruited for by employers. Although there was a decrease of 21,000 job openings compared to the previous month, there was an increase of 120,000 compared to the same period last year. Anirban Basu, Chief Economist at ABC, noted that despite the sustained high number of job openings, there were indications of a potential decrease in demand for construction workers. “The number of construction industry job openings remained elevated in January,” said ABC Chief Economist Anirban Basu. “Yet there were signs of potential softening demand for construction workers. January saw the lowest rate of construction workers quitting and the highest rate of layoffs and discharges since March 2023. Fortunately, this likely reflects the temporary effects of frigid weather on the industry rather than any broader slowing of construction activity. A majority of contractors expect to increase their staffing levels over the next six months, according to ABC’s Construction Confidence Index, a sign that the demand for workers should remain strong through at least the first half of the year.”