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Brief of diving:
- Open construction work It fell from 55,000 to 217,000 on the last day of December compared to the last day of November, according to data from the Office of Labor Statistics published on Tuesday. The report measures the number of positions for which employers actively seek workers.
- The openings dropped 50% year after year. The number of new employees hired in the industry, 301,000, decreased by 16%.
- In addition, contractors fired or unloaded 147,000 workers, relatively unchanged in the previous month, but 15% less than in December 2023.
Divide vision:
“The hiring of the construction industry was slowed to an unprecedented rate in December,” said ABC’s chief economist, Anirban Basu In a statement. “The recruitment rate fell to 3.6% of the month, the lowest level registered apart from the month affected by the pandemic of April 2020. This slowdown is the direct result of the decrease in demand for work; The work openings throughout the industry have dropped exactly 50% during the past year. “
Decreased December work openings occurs after a great fall in summer followed A slight rise in November.
Despite these weak labor demand, both layoffs and search engines remain extremely low according to historical standards, said Basu.
“The weak demand for construction labor may be the effect of the cold climate and the slowdown of activity during the transition between the presidential administrations,” he said, emphasizing that most contractors are intended to increase the staff levels over the next six months, according to the next six months, according to ABC’s confidence index of constructionsuggesting that hiring could be collected in the first half of 2025.
