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The construction industry had 248,000 job openings on the last day of March, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics' Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings decreased by 38,000 last month and are down by 90,000 from the same time last year.
"Construction job openings continued to trend lower in March, a clear sign of slowing industrywide demand for labor," said ABC Chief Economist Anirban Basu. "Hiring activity was particularly weak for the month, with the 302,000 hires equivalent to just 3.6% of industrywide jobs—the lowest rate ever recorded.
"With quitting and layoff activity also subdued for the month, construction labor force churn is virtually nonexistent at the moment. While a majority of contractors surveyed in March expect to increase their staffing levels over the next six months, according to ABC's Construction Confidence Index, tariffs and other economic headwinds may blunt hiring expectations in the months to come."