Attracting skilled labor remains a high priority for the construction industry even as job openings begin to slow. Over the past seven months, residential construction has made up 96% of jobs lost during March and April while nonresidential construction has seen a 58% job recovery. Hiring even continued its upward trend in October with a hiring rate of 5.4% but layoffs actually slightly increased as well. The layoff rate is nothing like that of April or March where rates were 10.8% and 7.9%, respectively.
The job openings rate in construction was steady in October, remaining at a 3% rate, with 230,000 open positions in the sector. This is lower than the 325,000 count recorded a year ago, as the construction labor market adjusts to new conditions post-virus.
Related Stories
Construction
Single-Family Permits 12% Higher Than Previous Year
Nationwide, issued single-family permits in November increased 12.2% compared to the previous year, reports the National Association of Home…
Off-Site Construction
The Off-Site Versus On-Site Construction Debate
Advocates for building homes off-site in a factory and an on-site builder present their cases for why their approaches are best for maximizing…
Housing Policy + Finance
Department of Labor Clarifies Independent Contractor Classification
It will be easier to classify workers between independent contractors and employees, according to the U.S Department of Labor’s latest…
