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Construction Job Openings Plunged by 71,000 in June

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"The construction industry had 71,000 fewer job openings in June, providing more evidence that a once-scorching employment market is starting to cool."
"There were 334,000 open jobs across construction in June, a 17.5% plummet from May, according to the Bureau of Labor Statistics’ monthly Job Opening and Labor Turnover Survey. But that was still 4% higher than the number of job openings in the sector a year ago."
“Demand for workers is clearly fading due to rising borrowing costs, increasingly pervasive pessimism and growing risk of recession,” said Anirban Basu, chief economist for Associated Builders and Contractors in a release that analyzed the data. “While debate regarding whether or not the United States is in recession rages on, one thing appears clear: the U.S. economy is poised to slow.”

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