The Number Of Unfilled Jobs In The Construction Sector Continues To Rise
The number of open construction sector jobs reached 210,000 in March, yet another post-Great Recession high, according to the NAHB’s Eye on Housing blog. This estimate, if it holds, is the largest monthly count of job openings since May 2007.
The amount of job openings as a percent of total employment, otherwise known as the open position rate, reached 3 percent in March, which was also a cycle high. On a three-month moving average basis, the open position rate for the construction sector increased to 2.7 percent. March’s quits rate for construction increased 2.4 percent while the hiring rate was effectively unchanged at 4.9 percent.
Residential construction has a 6-month moving average of job gains at just fewer than 19,000 and total employment currently sits at 2.59 million. This breaks down to 728,000 builders and 1.86 million residential specialty trade contractors.
On a net basis over the last 12 months home builders and remodelers have added 141,000 jobs and residential construction has gained 603,800 positions since its low point just after the Great Recession.
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