Source: U.S. Bureau of Labor Statistics

The construction industry had 413,000 job openings on the last day of January, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics' Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting.

Industry job openings decreased by 21,000 last month but are up by 120,000 from the same time last year.

"The number of construction industry job openings remained elevated in January," said ABC Chief Economist Anirban Basu. "Yet there were signs of potential softening demand for construction workers. January saw the lowest rate of construction workers quitting and the highest rate of layoffs and discharges since March 2023. Fortunately, this likely reflects the temporary effects of frigid weather on the industry rather than any broader slowing of construction activity.

"A majority of contractors expect to increase their staffing levels over the next six months, according to ABC's Construction Confidence Index, a sign that the demand for workers should remain strong through at least the first half of the year."

For more information, visit abc.org/economics.

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