Construction sector vacancies fall in June: ABC

The number of open positions in the construction industry fell to 295,000 in June, according to an analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS), according to an analysis by Associated Builders and Contractors. The finding shows competition to fill positions remains high.

JOLTS defines a vacancy as an unfilled position for which an employer is actively recruiting. The number of openings in the industry is down 119,000 compared to the same period last year.

“Construction job openings fell to their lowest level since March 2023,” ABC Chief Economist Anirban Basu said in a statement. “This sharp decline is at least partly due to cyclical factors and slowing residential sector activity. More new homes were completed in June than in any month since January 2007, and high interest rates have pushed backlogs for homebuilders.

“Nonresidential construction continues to gain momentum due to strength in certain segments such as manufacturing and infrastructure, and that should keep labor demand high,” Basu said. “According to ABC’s Construction Confidence Index, a majority of contractors plan to increase their workforce over the next six months, while less than 9% of contractors expect to decrease their workforce over that period.”