WASHINGTON, DC — The development trade supported 412,000 job openings in February, in keeping with an Related Builders and Contractors evaluation of information from the US Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled place for which an employer is actively recruiting. Business job openings elevated by 129,000 final month, however are down 9,000 from the identical time final yr.
“These information verify the sharp decline in building job openings in January was a statistical aberration,” mentioned ABC Chief Economist Anirban Basu. “Demand for building staff stays elevated regardless of fears of recession, gradual implementation of America’s infrastructure rebuilding program, greater rates of interest and rising issues concerning the supply of undertaking financing in mild of current financial institution failures.
“This additionally reinforces the findings from ABC’s newest Development Confidence Index, which point out that the standard nonresidential building agency stays in progress mode, anticipating gross sales, employment and even revenue margins to develop over the following six months,” mentioned Basu. “Within the face of quite a few headwinds, the resilience of the U.S. nonresidential building trade stays outstanding.”
Go to abc.org/economics for the Development Backlog Indicator and Development Confidence Index, plus evaluation of spending, employment, job openings and the Producer Value Index.