Construction industry layoffs reached an all-time low in August, with only 99,000 workers laid off. This marks the fewest layoffs since data collection began in December 2000. Despite this, job openings in the sector also decreased, indicating a cooling demand for workers. However, the scarcity of skilled trades, particularly in areas like data centers, is expected to drive up labor costs. This trend suggests a complex labor market with both declining overall layoffs and specific skill shortages.
Washington, D.C.
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