flexiblefullpage - default
Currently Reading

Construction Layoffs Soar, Led by Single-Family Sector

Advertisement
billboard - default
Labor + Trade Relations

Construction Layoffs Soar, Led by Single-Family Sector

Roughly 3.7% of construction workers were laid off or discharged in March, the highest rate reported since the early days of the COVID-19 pandemic


May 8, 2023
White hard hat on ground next to group of construction workers sitting down
Image: Blue Planet Studio / stock.adobe.com

Construction layoffs are at their highest level since the start of the pandemic, and that drop in the share of open positions is predominantly driven by weakness in the single-family home building sector, according to Construction Dive. 

The number of open jobs in construction dropped by 73,000 to 341,000 in March, a 17% year-over-year decline and the second lowest share recorded since mid-2021. With interest rates still elevated, home builders are slowing their pace of hiring, meaning more layoffs could lie ahead over the next several months.

The data indicates “a significant decline in open positions in the construction industry,” said Anirban Basu, ABC’s chief economist. “The 3.7% of construction workers who were laid off or discharged in March is the highest rate since the early months of the COVID-19 pandemic.”

Read more

 

Advertisement
leaderboard2 - default

Related Stories

Labor + Trade Relations

Who's Earning What in Construction

Workers in construction management roles may earn a higher median wage, but on average, lower-paid occupations have experienced somewhat faster wage growth

Construction

Proven Ways to Improve Jobsite Productivity

Consider these solutions for reducing cycle time, hard costs, dry runs, rework, miscommunication, and overall inefficiencies on the jobsite

Labor + Trade Relations

Residential Building Workers See Jump in Wage Growth

Housing industry worker wages have been trending upward over the past eight months, but February saw wages grow the fastest they have in more than two years

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category

Delaware-based Schell Brothers, our 2023 Builder of the Year, brings a refreshing approach to delivering homes and measuring success with an overriding mission of happiness

NAHB Chairman's Message: In a challenging business environment for home builders, and with higher housing costs for families, the National Association of Home Builders is working to help home builders better meet the nation's housing needs

Sure there are challenges, but overall, Pro Builder's annual Housing Forecast Survey finds home builders are optimistic about the coming year

Advertisement
native2 - default
Advertisement
halfpage1 -

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.