Housing Market Labor Shortage Eases
Housing Market Labor Shortage Eases
A labor shortage that has hampered the construction industry for most of the housing market’s five-year recovery is showing signs of easing.
The number of open construction jobs fell to a seasonally adjusted 154,000 in May, down from the cyclical high of 238,000 open jobs set in July of last year, according to the most recent Labor Department data.
Job openings as a percentage of total employment were at 2.2%, down from 2.8% the previous month.
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