According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and National Association of Home Builders (NAHB) analysis, the number of open construction sector jobs (on a seasonally adjusted basis) increased to 210,000 in March, compared to 193,000 in February. The current estimate represents the highest monthly count of job openings since May 2007. The open position rate (job openings as a percent of total employment) for March was 3%, also a cycle high. On a three-month moving average basis, the open position rate for the construction sector increased to 2.7%. The overall trend for open construction jobs has been an increasing since the end of the Great Recession. This is consistent with survey data indicating that access to labor remains a top business challenge for builders.
Number of Unfilled Construction Jobs Hits New Post-recession High
