The construction industry is experiencing a dynamic period in its labor market. While the overall job openings rate saw a dip in 2024, falling to 2.9% in July, the lowest since March 2020, this is largely attributed to a cyclical downturn in residential construction. Experts anticipate a rebound in construction activity and a corresponding increase in demand for labor later in 2025. However, the long-term outlook indicates a persistent shortage of skilled workers, particularly in specialized trades like surveying, welding, and pipefitting.