Construction job shortage eases up but isn’t healing fast enough

Open jobs fell to 154,000, report claims

New York /
Jul.July 12, 2017 11:15 AM

The shortage in construction labor across the country is starting to ease up, but the number of job openings still remains near historic levels.

The number of available construction jobs in the United States fell to 154,000 in May, down from 238,000 in July 2016, the Wall Street Journal reported. Still, hiring isn’t expanding fast enough, Robert Dietz, chief economist at the National Association of Home Builders, told the Journal.

The slight decline in job openings could be a sign that employers are finding it marginally easier to find workers. But it could also be an indication that developers are putting projects on hold due to fear of over-saturating the multifamily construction market.

Last month, the Journal reported on a survey that found that more than one-third of contractors said they’ve had to turn work down to keep up with project volume. In New York City, the average number of construction workers soared to 146,200 last year, marking the first time employment in the city has exceeded 140,000 in at least four decades. Still, other reports have indicated that the skilled construction labor force is “overstretched.”  [WSJ] — Kathryn Brenzel 


Related Articles

arrow_forward_ios
The Grand Hyatt Hotel at 109 East 42nd Street and and  RXR’s Scott Rechler (Wikipedia Commons; Getty)

Grand Hyatt redevelopment could be 1,600-foot supertall

Grand Hyatt redevelopment could be 1,600-foot supertall
A rendering of Gowanus Green and HPD commissioner Louise Carroll (Rendering via Jonathan Rose Companies)

Massive Gowanus development will be 100% affordable

Massive Gowanus development will be 100% affordable
L+M Development Partners' Ron Moelis and a rendering of Sendero Verdo (Photos via L+M; Handel Architects)

L+M in deal with union laborers to cut wages on affordable projects

L+M in deal with union laborers to cut wages on affordable projects
Housing starts rose almost 5% last month

Housing starts rose almost 5% last month

Housing starts rose almost 5% last month
Sheldon Solow (Getty)

Billionaire developer Sheldon Solow dies at 92

Billionaire developer Sheldon Solow dies at 92
(Getty, iStock)

Homebuilder confidence soars to another record high

Homebuilder confidence soars to another record high
Peter Koo and the Flushing waterfront (Facebook, Flushing Waterfront, rendering by Jeff Strikeman Architectural Art)

Flushing … another project down the toilet?

Flushing … another project down the toilet?
Photo-illustration (images via Getty)

Kiss the ring: City pols weigh heavy on development in these major markets

Kiss the ring: City pols weigh heavy on development in these major markets
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...