The construction industry saw 71,000 fewer job openings from May to June, according to an Associated Builders and Contractors analysis of data by the U.S. Bureau of Labor Statistics.
Job openings sat at 295,000 the last day of June—the lowest level since March 2023.
“This sharp decline is at least partially due to cyclical factors and slowing activity in the residential sector,” ABC Chief Economist Anirban Basu said in a statement. “More new housing units were completed in June than in any month since January 2007, and high interest rates have weighed on homebuilders’ backlogs.”
Read the full ABC report here.
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