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Economic Reports
The latest hiring report indicates contractor uncertainty around the presidential election and what the year will bring, according to a construction economist.
Published Jan. 8, 2025
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Dive Brief:
- Open construction jobs ticked up 17,000 to 276,000 on the last day of November when compared to the last day of October, according to Bureau of Labor Statistics data released Tuesday. The report measures the number of positions for which employers actively are seeking workers.
- The increase occurred after a large drop in openings after the summer, and the end of November counted about 40% fewer jobs than the same month in 2023. Of all construction jobs, 3.8% went unfilled in November, comparable to the preceding months.
- In addition, contractors hired 317,000 new workers and laid off or discharged 114,000, both relatively unchanged from the year before. Economists said that the report indicates trepidation and uncertainty about the impact of the presidential election and year to come.
Dive Insight:
Though just a slight dip from the year before, November’s hiring rate was the second-slowest on record in November, according to