Construction Job Openings Rise to 298,000 in September
Key Highlights
- Construction had 298,000 job openings at the end of September, according to BLS JOLTS data
- Nearly 200,000 construction workers quit in September, the highest monthly total since the first half of 2023
- Industry layoffs were down 56,000 year over year, while the layoff rate remained historically low
WASHINGTON, DC — Findings from the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS) shows the construction industry had 298,000 job openings on the last day of September. (JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting).
Construction industry job openings increased by 36,000 last month and are up by 92,000 year-over-year.
Worker Shortages Mean Rising Labor Costs
“Nearly 200,000 construction workers quit their jobs in September,” said ABC Chief Economist Anirban Basu. “That’s the most in any month since the first half of 2023 and a strong indication that the industry’s labor supply is once again tightening.
"Unsurprisingly, contractors have responded by holding on to workers they otherwise might part with; industrywide layoffs are down by 56,000 year over year, and the layoff rate remains lower than in any month on record prior to 2020.
“Reemerging worker shortages will put upward pressure on labor costs, a dynamic that will exacerbate the effects of high borrowing costs and ongoing materials price escalation,” said Basu. “More than in 1 in 4 contractors expect their profit margins to contract over the next six months, according to ABC’s Construction Confidence Index, and that share will likely rise if labor shortages continue to intensify into early 2027.”
Visit abc.org/economics for the Construction Backlog Indicator and Construction Confidence Index, plus analysis of spending, employment, job openings and the Producer Price Index.
