Job Shortage or Applicant Surplus?
October's job loss was all housing
Construction lost 3,000 jobs in October, its first drop since February. Nonresidential contractors added 13,300, while residential builders and subs shed 16,400. Nearly half of contractors plan to add staff in the next six months.
Read the full story →Quits jump to 198,000
September quits rose from 152,000 to 198,000, the most since early 2023. Openings hit 298,000 and hires 356,000, while layoffs were 138,000, down from 194,000 a year earlier. Fewer people are being let go, and more are choosing to leave.
Read the full story →Pay Watch
Hourly pay up 5.2% as the pool dries up
Construction production workers averaged $39.70 an hour in October, up 5.2% on the year against 3.3% for the private sector. Only 363,000 jobseekers had recent construction experience, the lowest October figure since 2018.
Read the full story →What’s Working in TA
Ask before they resign
With quits climbing, run a quick check-in with your top foremen and superintendents this month. Ask what a competing offer would need to look like to tempt them.
Keep a second candidate warm
Counter-offers get more common when people have options. For any critical site or project role, keep your number two engaged until the start date, not just the offer.
Look at residential talent
Residential trades are losing jobs while commercial and MEP subs are hiring. Experienced residential foremen and specialty trades can be a strong pool, with a short onboarding plan for the gaps.
QP’s Take
Your people have options. Plan for it.
- Low layoffs and rising quits point the same way: the people moving are choosing to. Retention is now part of the hiring plan.
- The national total looks flat, but nonresidential, civil and MEP contractors are still adding people. Read the split, not the headline.
- For 2027 plans: For 2027 plans, refresh pay bands for field and craft roles against today's market, and budget for counter-offers on your hardest-to-fill positions.
Questions about hiring in your team?
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