Dive Brief:
- Open construction jobs ticked up 17,000 to 276,000 on the last day of November when compared to the last day of October, according to Bureau of Labor Statistics data released Tuesday. The report measures the number of positions for which employers actively are seeking workers.
- The increase occurred after a large drop in openings after the summer, and the end of November counted about 40% fewer jobs than the same month in 2023. Of all construction jobs, 3.8% went unfilled in November, comparable to the preceding months.
- In addition, contractors hired 317,000 new workers and laid off or discharged 114,000, both relatively unchanged from the year before. Economists said that the report indicates trepidation and uncertainty about the impact of the presidential election and year to come.
Dive Insight:
Though just a slight dip from the year before, November’s hiring rate was the second-slowest on record in November, according to Anirban Basu, chief economist for Associated Builders and Contractors.
“That’s especially meaningful given that the slowest rate occurred in April 2020 as the pandemic brought construction activity to a standstill,” Basu said. “At the same time, the rates at which workers were laid off or quit also remained near historical lows, suggesting that both contractors and their employees were in a wait-and-see mode in November.”
Even so, ABC’s construction confidence report indicates the majority of contractors still intend to increase their staffing, Basu said.
Macrina Wilkins, senior research analyst for the Associated General Contractors of America, noted the continued trend of low job openings the past four months, especially compared with the period a year ago.
“While the industry is still adding jobs, growth has slowed significantly,” Wilkins told Construction Dive. “This decline underscores ongoing workforce challenges — such as firms struggling to find and hire qualified workers — likely combined with increasing uncertainty about what 2025 will bring.”
