Construction Sector Job Openings Steady During Economy’s Soft Patch

Job data from the Bureau of Labor Statistics (JOLTS data) confirm that the U.S economy hit a soft patch during the summer of 2011, particularly with respect to the labor market. Nonetheless, the battered but recovering construction sector job market seems unaffected thus far.

For the economy as a whole, layoffs increased by more than 10% from May to June. In fact, on a seasonally adjusted basis the number of layoffs in June (1.775 million) was the highest level recorded by the economy since August of 2010. The layoff rate, measured as a share of total employment and graphed below, increased accordingly to 1.4%, after four consecutive months of recording a rate of 1.2%.

For the construction sector, the number of hires in June (348,000) remained relatively high (for the post-2008 period). Moreover, the total number of construction hires for May was revised up from 339,000 to 355,000. The job openings rate for construction remained at 1.6%, with a total of 87,000 positions unfilled.

Moving to the 2011 year-to-date totals, this year still looks to be the first year since the Great Recession for which total hires for the construction sector will outpace total separations. However, through June total hires exceed total separations by only 20,000.

About these ads

4 Responses to Construction Sector Job Openings Steady During Economy’s Soft Patch

  1. [...] Construction Sector Job Openings Steady During Economy’s Soft Patch NAHB’s Eye on Housing “Job data from the Bureau of Labor Statistics (JOLTS data) confirm that the U.S economy hit a soft patch during the summer of 2011, particularly with respect to the labor market. Nonetheless, the battered but recovering construction sector job market seems unaffected thus far.” Filed under: industry news Comment (0) More from Integrity Windows:     Request product literature     Find an Integrity dealer near you [...]

  2. [...] 2010 – construction hires and openings proved seemingly invincible, according to data from the National Association of Home Builders. In June, the data tracked 348,000 construction hires following 355,000 total construction hires [...]

  3. [...] 2010 – construction hires and openings proved seemingly invincible, according to data from the National Association of Home Builders. In June, the data tracked 348,000 construction hires following 355,000 total construction hires [...]

  4. [...] Housing Market Showing Signs of LifeHousing Starts in U.S. Fell 0.3% to 628,000 Rate in OctoberConstruction Sector Job Openings Steady During Economy’s Soft Patch div.socialicons{float:left;display:block;margin-right: 10px;}div.socialicons p{margin-bottom: [...]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 7,106 other followers

%d bloggers like this: