The construction industry shed 9,000 jobs in March, the first decline recorded since January 2022, according to the Associated General Contractors of America.
The drop indicates “a lack of workers, not demand,” according to AGC.
“Despite a small dip in headcount, construction firms continued to post a high level of job openings and raised pay more than other industries—two signs they still want to hire more workers,” AGC Chief Economist Ken Simonson stated. “But the pool of unemployed, experienced jobseekers keeps shrinking for the construction sector.”
Most of the employment declines were among residential building and specialty trade contractors, which shed 7,000 employees (0.2%).
Job openings for construction at the end of February were 384,000, just below the all-time high of 388,000 recorded at the beginning of February.
Average hourly earnings for construction workers jumped 6.6% year-over-year in March to $33.82.
AGC urged public officials to provide more support for construction programs in schools and to fund more training programs to address the labor shortage.
“Firms are struggling to fill high-paying construction positions while many schools continue to push students to go to college, amass student debt and hope for an office job,” AGC CEO Stephen E. Sandherr stated. “Exposing students and other future workers to construction will signal that it should be among the career paths worth considering.”
