Currently Reading

Construction Labor Market Remains Strong, Sees Reduced Turnover

Advertisement
Construction

Construction Labor Market Remains Strong, Sees Reduced Turnover


November 11, 2020
Construction worker observing excavation
Photo: sculpies

Since March, the construction labor market has continued to see a strong recovery. The hiring rate for the construction sector saw its peak in May with an occupational gain of 9.7% and the rate remained strong and steady from August to July. In September, hiring rates dropped slightly to 5.3%, but the turnover rate in September also dropped, according to the National Association of Home Builders. The layoff rate has come down significantly from its peak in April at 10.8%. Now, the September layoff rate floats at 1.4%, the lowest rate in the entire data series, which began tracking numbers in 2001.

The job openings rate in construction declined in September to a 3.1% rate, with 229,000 open positions in construction. This is lower than the 333,000 count recorded a year ago, as the construction labor market adjusts to the new post-virus crisis period.

Looking forward, the job openings rate is likely to experience choppiness in the months ahead given divergent outlooks within the construction industry. Home building and remodeling are relative bright spots for the overall economy, while nonresidential construction will experience greater headwinds. 

Read More

Related Stories

Construction

Local Data Lists Jobsites as Top Spot for COVID-19 Outbreaks

Construction jobsites have appeared to be much safer against COVID-19, but a multitude of reports and data are saying otherwise. Construction Dive…

Custom Home Design

Custom Home Building Activity Lags Behind Overall Market

While single-family home construction continues to boom, custom home building lags behind. The National Association of Home Builders reports that…

Construction

First All-Women Built Home Breaks Ground in Utah

There’s a project like no other being built in Saratoga Springs, Utah, where everything from engineering to plumbing is being done solely by women…

Advertisement

More in Category




Advertisement

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.