The housing market was a bit slower in the last half of 2018. Despite the slowdown in the sale and resales of homes, the job openings in the construction industry boomed in the last part of 2018.
The National Association of Home Builders and the BLS Job Openings and Labor Turnover Survey reported an increase in the number of job openings in the construction field. The quits rate for the construction sector jobs increased 2.8% in the last month of 2018. This was a jump from the 2.2% reported in December of 2017. The open position rate increased from 3.9% to 4.9% from the beginning of 2018 to the last half of the year. The rate reported at the end of 2017 was just 2.1%. The cycle high was 382,000 in December of 2018 which was much higher than the 149,000 reported December 2017.
The housing market will continue to thrive making the need for more workers in the construction field. The construction industry has had an overall increase in jobs since the end of the recession. It is anticipated that in 2019 the jobs might level off but there will still be a high demand in the industry.
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