The U.S. Bureau of Labor Statistics’ Job Opening and Labor Turnover Survey shows the construction industry registered 217,000 job openings in December 2024, which is down by 55,000 from November 2024 and down by 217,000 from December 2023, according to Associated Builders and Contractors. The survey defines a job opening as any unfilled position for which an employer is actively recruiting.
Construction workers were laid off at a faster rate than they quit; the layoff/discharge rate in December 2024 was 1.8%, and the quit rate was 1.4%.
“Construction industry hiring slowed to an unprecedented pace in December,” said ABC Chief Economist Anirban Basu. “The hiring rate fell to 3.6% for the month, the lowest level on record aside from the pandemic-affected month of April 2020. This slowdown is a direct result of diminished demand for labor; industrywide job openings have fallen exactly 50% over the past year.
“Despite these signs of weak demand for labor, both layoffs and quits remain extremely low by historical standards,” Basu continued. “It’s possible that the weak demand for construction labor is the effect of cold weather and slowing activity during the transition between presidential administrations. A majority of contractors intend to increase their staffing levels over the next six months, according to ABC’s Construction Confidence Index, suggesting that hiring could pick up during the first half of 2025.”
