The decrease in open jobs amid a still-tight labor market has been an ongoing trend for construction throughout the year.
Following a decrease in openings last month, Ken Simonson, chief economist for the Associated General Contractors of America, said he believes nonresidential builders have seen little change in demand.
“The decline in job openings may be limited to home builders and subcontractors, along with building contractors that work mainly on multifamily, office or warehouse projects,” Simonson told Construction Dive following the April report. Construction counted 9,000 fewer jobs in April compared to March.
Another sign of a tight labor market is the number of quits (199,000 in May) outweighing the number of layoffs and discharges that same month (147,000).
“Over half of contractors intend to increase their staffing levels during the next six months, according to ABC’s Construction Confidence Index,” said Basu. “As a result of this ongoing intention to hire and the lack of available workers, contractors laid off just 1.8% of the workforce in May, a smaller share than in any month on record prior to late 2021.”