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Increase in Construction Employment Observed in July

Construction job openings in the sector bucked the national trend, rising from 242,000 in June to 306,000 in July.

Increase in Construction Employment in July
Increase in Construction Employment in July

Increase in Construction Employment Observed in July

The construction market showed signs of considerable churn in July, with a rise in job openings, a low quits rate, and an increase in layoffs. According to the Austrian Public Employment Service (Arbeitsmarktservice Österreich, AMS), the number of open positions in the construction sector increased significantly, reaching 306,000 in July, compared to 242,000 in June. This increase was also higher than the 229,000 open jobs recorded in July of the previous year.

However, the construction job openings rate in July was lower than the 7.5 million estimate from a year ago. The national labor market cooled in July, with the overall number of open jobs decreasing from 7.36 million in June to 7.18 million in July.

Despite the increase in open positions, the construction industry experienced a notable increase in layoffs in July. The layoff rate in the sector rose to 2.8%, marking the highest rate since March 2023. This increase ran counter to the national trend of decreasing open jobs.

On a positive note, the quits rate in the construction sector declined to 0.9% in July, marking the lowest recorded rate since data collection began in 2000. This indicates that workers are less likely to voluntarily leave their jobs in the construction industry, which could be a sign of job security or satisfaction.

The future data will be crucial for identifying trends in the construction market following the notable events observed in July. As the industry continues to evolve, it will be interesting to see how these trends develop and what impact they may have on the construction market moving forward.

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