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Constructions layoffs reach highest level since early in the pandemic

May 3, 2023


Weakness in the single-family homebuilding sector likely accounted for much of the decrease in job openings, Basu said.

Meanwhile, the fact that only about 10% of ABC’s mostly nonresidential members expect staffing levels to decrease over the next six months indicates a positive outlook in the sector for nonhousing-related construction.

“With interest rates elevated and set to rise again at the Federal Reserve’s May meeting, these dynamics should remain firmly in place over the next few months,” Basu said.

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