The U.S. and construction unemployment rates were 3.6% in June 2023. Furthermore, construction hires exceeded quits by 152,000 positions. Compounding the problem is that this past spring, construction hires exceeded the number of job openings, suggesting that a bit of job hoarding was going on. All this is making it hard for plumbing and HVACR contractors to compete for skilled technicians.
Low unemployment in the construction industry can create an atmosphere of intense competition for labor, increased diversification of skills among workers, increased workload, and a limited pool of skilled candidates.