When the pandemic sparked widespread job losses in 2020, some believed it could mitigate the persistent skilled labor shortages within the construction industry. However, a new study shows that hasn’t been the case.
When the pandemic sparked widespread job losses in 2020, some believed it could mitigate the persistent skilled labor shortages within the construction industry. However, a new study shows that hasn’t been the case.
The number of job openings in December was equal to 2.6% of construction jobs (195,000 unfilled positions), according to a Job Opening and Labor Turnover Survey by Marcum LLP, a national accounting and advisory services firm. “While that’s the lowest proportion registered since December 2017, it’s higher than the average proportion of job openings observed from 2014–2017,” the study states.
The quit rate in December also showed the struggle to find and retain skilled workers, as there were 13,000 more workers who quit their construction jobs than were laid off or discharged by employers—the 17th month in the past 20 years during which quits exceeded layoffs and discharges, according to the survey.
And as contractors in some regions struggle to find workers, the average hourly earnings of construction employees reached their highest level on record in January 2021 ($32.11), and average weekly hours worked increased to their highest level since the third quarter of 2019 (39.2 in December 2020, according to the U.S. Bureau of Labor Statistics).
“This is what might be expected from a strong economy operating under normal circumstances, not one facing a lingering pandemic and elevated unemployment,” the study states.
The full report can be found here.
