The US construction sector hiring rate, as measured on a twelve-month moving average basis, held steady at 5.3% in August 2019.
The twelve-month moving average for layoffs ticked up to 2.5%, continuing a rising trend in recent months.
Data from the BLS Job Openings and Labor Turnover Survey (JOLTS) indicate that construction job openings increased in August. The estimated number of job openings in the construction sector increased to 379,000 after reaching a post-Great Recession high of 434,000 in April. The August 2019 count of unfilled jobs represents a year-over-year gain relative to the 315,000 estimated unfilled construction jobs in August 2018.
The open position rate (job openings as a percentage of total employment plus current job openings) increased to 4.8% in August, after reaching a cycle high of 5.5% in April.
On a smoothed, twelve-month moving average basis, the open position rate for the construction sector ticked up to 4.3%.
The peak (smoothed) rate during the building boom prior to the recession was just below 2.7%. For the current cycle, the sector has been above that rate since October 2016.