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JOLT Survey

March 2016
SURVEY ANALYSIS


JOLT Survey - Construction Labor Market Recovery Continues
The construction industry continued its post-recession recovery through the first month of 2016, adding 18,000 net new jobs according to the Bureau of Labor Statistics' preliminary estimate. This represents the seventh consecutive month of job gains for the industry and brings total construction employment above 6.6 million for the first time since 2008. The industry would likely have reached that milestone earlier, were there not an ongoing shortage of skilled construction workers.


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JOLT Survey Construction Labor Market Recovery Continues 1

Exhibit 1. Total U.S. Construction Hires, January 2005 through December 2015 2

Exhibit 2. Hiring and Openings, December 2012 through December 2015 2

Exhibit 3. Construction Industry Separations, January 2005 through December 2015 3

 
February 2015
SURVEY ANALYSIS


JOLT Survey Paints a Complex Picture
The US construction industry continued to recover in 2014. Post-recession construction employment surpassed the 6 million plateau for the first time, though total construction employment remains more than one million jobs short of the pre-recession high. During 2014’s final month, the construction industry added 44,000 jobs, which means that the construction industry supports 5.7 percent more jobs than it did one year ago. The year-over-year percentage increase represents the largest construction employment gain since May 2006, which arguably represented the beginning of the end for the nation’s housing boom.


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JOLT Survey Paints a Complex Picture 1

Exhibit 1. Total U.S. Construction Hires, January 2004 through December 2014 2

Exhibit 2. Hiring and Openings, December 2012 through December 2014 3

Exhibit 3. Construction Industry Separations, January 2004 through December 2014 3

 
April 2014
SURVEY ANALYSIS


JOLT Survey Spotlights Emerging Skills Shortages
The US construction industry remains far from full recovery. Despite that, the industry is increasingly impacted by emerging skills shortages; the products of ongoing retirements, rapidly shifting technologies, and inadequate levels of interest among younger workers. Readers should note that net given job creation in any given month is the product of massive numbers of people being hired and almost equally large numbers of people being released from employment over that same period. All too frequently, the number of US construction jobs actually declines on a monthly or annual basis. When construction adds or loses jobs in a given month, the reported figure is a net change statistic that often obscures the frantic pace of hiring and firing that characterizes the industry.


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JOLT Survey Spolights Emerging Skills Shortages 1

Exhibit 1. Total U.S. Construction Hires, January 2003 through December 2013 2

Exhibit 2. Hiring and Openings, December 2010 through December 2013 2

Exhibit 3. Construction Industry Separations, January 2003 through December 2013 3


Construction Index

CONSTRUCTION UPDATES

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