Tag Archive for ‘JOLTS’

Construction Labor Market Adjustment Continues

The shock and fallout to the construction labor market from the recession of 2020 continued in early Fall as housing activity strengthened due to low interest rates. After an accelerated pace of layoffs in March and April, construction hiring roared back in May and June, per data from the BLS Job Openings and Labor Turnover Survey (JOLTS).  More recent July… Read More ›

Construction Hiring Continued in June

After an accelerated pace of layoffs in March and April, construction sector hiring roared back in May and continued at somewhat reduced pace in June, per data from the BLS Job Openings and Labor Turnover Survey (JOLTS). In May, the hiring rate increased to 9.7%, after a subdued 3.7% rate in April. This was the strongest rate of hiring in… Read More ›

Construction Layoffs in March

Backward-looking data illustrate the degree of damage done by the sudden stop of the U.S. economy due to the public health response associated with the coronavirus. For example, there were 4,300 net job losses in residential construction in March, followed by a staggering 415,000 losses in home building and remodeling in April. The leading edge of this job loss was… Read More ›

JOLTS Data from the Start of 2020

Given the growing number of economic impacts from mitigation efforts associated with the coronavirus, early 2020 labor market data is of reduced value. However, the data help to describe where the economy was before the shocks of March. January data from the BLS Job Openings and Labor Turnover Survey (JOLTS) indicate that construction job openings posted year-over-year decline at the… Read More ›

Year-over-Year Decline for Construction Job Openings

Data from the BLS Job Openings and Labor Turnover Survey (JOLTS) indicate that construction job openings posted a monthly decline in November and a substantial decrease on a year-over-year basis. The estimated number of job openings declined from the October total (326,000) to 214,000 in November, after reaching a post-Great Recession high of 434,000 in April. The November 2019 count of… Read More ›

A Decade of Home Building: The Long Recovery of the 2010s

Home building in the 2010s was a story of the Long Recovery. After the Great Recession, the number of home builders declined significantly, and housing production was unable to meet buyer demand. This deficit of housing in the United States continues to exist because of persistent supply-side headwinds for builders, creating a critical housing affordability challenge for renters and homebuyers…. Read More ›

Year-over-Year Gains for Construction Job Openings

Data from the BLS Job Openings and Labor Turnover Survey (JOLTS) indicate that construction job openings posted a monthly decline in October but remain higher on a year-over-year basis. The estimated number of job openings declined from the September total (327,000) to 311,000 in October, after reaching a post-Great Recession high of 434,000 in April. The October 2019 count of unfilled… Read More ›

Construction Job Openings Continue Year-over-Year Gains

Data from the BLS Job Openings and Labor Turnover Survey (JOLTS) indicate that construction job openings increased in September on a year-over-year basis. The estimated number of job openings declined from the August total to 338,000 in September, after reaching a post-Great Recession high of 434,000 in April. The September 2019 count of unfilled jobs represents a year-over-year gain relative to… Read More ›