The construction industry had 188,000 job openings at the end of August, according to an Associated Builders and Contractors (ABC) analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS). That figure marks a decline of 115,000 from July and 116,000 fewer openings than a year ago.
“Construction job openings plunged in August, falling to the lowest rate in nearly a decade,” said ABC Chief Economist Anirban Basu. “While this data series can be volatile, the sharp drop aligns with other indicators such as construction spending and employment, both of which have fallen in recent months.”
Basu added that although contractors remain cautiously optimistic about the months ahead, current data shows clear signs of a contracting construction market.
