US construction job openings hit their highest level since 2022

That is according to analysis of data from the US Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS) by Associated Builders and Contractors (ABC).

Industry job openings increased by 43,000 as compared to the previous month and were up by 111,000 from the same time last year.

ABC chief economist Anirban Basu said, “The number of open, unfilled construction positions increased to the highest level since the end of 2022.

“November’s 5.4% job opening rate is higher than at any point from the start of the data series in 2000 to the end of 2021. Contractors continue to grapple with skilled labour shortages even as the demand for and supply of labour in the broader economy rebalances.

“Contractors are facing severe labour shortages in regions that are home to industrial megaprojects.

“Projects in Arizona and South Carolina, for instance, have paused in recent months due to an inability to find enough skilled workers. As construction spending in manufacturing and infrastructure subsectors continues to surge in the coming months, labour shortages should remain a top concern for the construction industry.”