The U.S. Bureau of Labor Statistics’ Job Opening and Labor Turnover Survey shows the construction industry registered 375,000 job openings in July, which is up 22,000 from June and up 38,000 from July 2021, according to www.abc.org. The survey defines a job opening as any unfilled position for which an employer is actively recruiting.

For the 17th consecutive month, construction workers quit their jobs at a faster rate than they were laid off or discharged; the quit rate in July was 2.5%, and the layoff/discharge rate was 1.9%.

“Though we may have collectively experienced peak inflation, it is poised to remain unusually elevated for months to come,” said Associated Builders and Contractors Chief Economist Anirban Basu. “Many factors will keep prices high, including energy crises in Europe and China, as well as a dearth of available skilled workers. Today’s JOLTS release is receiving considerable attention because many hoped that job openings would decrease for the second consecutive month in July.

“That did not come to pass,” Basu continued. “Economywide job openings bounced back in July and remain more than 60% above pre-pandemic levels. According to ABC’s Construction Confidence Index, the share of contractors who expect to increase their staffing levels over the next half year remains elevated but has declined in recent months. As long as the supply of labor remains inadequate to meet the demand for workers, the industry will continue to experience upward wage pressures.”

Original Information Source:

https://www.nrca.net/RoofingNews/construction-job-openings-rose-in-july.8-31-2022.