The U.S. Bureau of Labor Statistics’ Job Opening and Labor Turnover Survey shows the construction industry registered 264,000 job openings in February, which is up by 22,000 from January and down by 165,000 from February 2024, 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 quit at a faster rate than they were laid off; the quit rate in February was 2.2%, and the layoff/discharge rate was 1.7%.
“Construction industry hiring continued to pick up in February, accelerating to the fastest rate since the first half of 2024,” said ABC Chief Economist Anirban Basu. “However, industrywide job openings remain subdued compared to this time last year. Still, there are signs that construction workers retain outsized leverage compared to their employers. Contractors remain reluctant to lay off workers, while construction workers quit their jobs at the fastest pace since last May.
“With contractors optimistic about expanding their staffing levels over the next six months, according to ABC’s Construction Confidence Index, the pace of hiring should continue to accelerate through the middle of 2025,” Basu continued.
