There is no doubt that there is a critical need for more labor in the construction industry. The number of unfilled construction jobs in January only works to drive that point home as it reached a post-Great Recession high, according to NAHB’s Eye on Housing blog.
In January, the number of open construction sector jobs increased to 185,000 from the December total of 124,000.The previous cycle high was set in May 2015 with a total of 177,000 open positions. The current number is the highest monthly count since July 2007.
On a three-month moving average basis, job openings as a percent of total employment for the construction sector increased to 2.0 percent for January. Since the Great Recession ended, the rate of open construction jobs has been consistently increasing.
Total residential construction employment is now at 2.584 million and breaks down to 716,000 builders and 1.869 million residential specialty trade contractors. Employers are looking to hire, as the construction sector hiring rate held at 4.9 percent and the quits rate fell to 1.2 percent for January, but there just doesn’t seem to be enough workers available.
For the full report and to view related graphs, click the link below.
PB Topical Ref
