JOLTS Analysis – The Question Becomes – How Will All This Work Get Done?
Employment data characterizing the fourth quarter of 2016 are consistent with expanding construction industry human capital shortfalls. According to the Bureau of Labor Statistics, the U.S. added 105,000 net new construction jobs from September 2016 to January 2017. That would represent a decent performance over the course of an entire year. The job growth from September through January, a period of five months, amounts to 1.2 percent employment expansion over that period. This is significantly more rapid that the 0.5 percent growth in U.S. employment tallies across all industries.
Table of Contents
- The Question Becomes – How Will All This Work Get Done?
- Exhibit 1 – Unemployment Rates, 2002-2016
- Exhibit 2 – Total U.S. Construction Hires, January 2006 through December 2016
- Exhibit 3 – Construction Industry Separations, January 2006 through December 2016
- Exhibit 4 – Construction Hiring and Job Openings, January 2003 through December 2016