Construction Job Openings Decrease in June
Due to slowing home construction and elevated interest rates, the count of open construction sector jobs shifted lower in June, per the Bureau of Labor Statistics’ . The number of open construction sector jobs shifted notably lower from 366,000 in May to 295,000 in June. The construction job openings rate fell to 3.5% in June, the lowest rate since March 2023.
However, this shift is consistent with a somewhat cooler labor market, which is a positive sign for future inflation readings and the interest rate outlook.
In June, after revisions, the number of open jobs for the overall economy decreased slightly from 8.23 million in May to 8.18 million. This is also smaller than the 9.13 million estimate reported a year ago.
NAHB analysis indicates that this number must fall below 8 million on a sustained basis for the Federal Reserve to feel more comfortable about labor market conditions and their potential impacts on inflation. With estimates near 8 million now, this suggests rate cuts lie in the months ahead if current trends hold.
NAHB Chief Economist Robert Dietz provides more details in .
Latest from NAHBNow
Sustainability and Green Building
Apr 30, 2025
NAHB Mourns Passing of Member Kim ShanahanNAHB mourns the passing of Kim Shanahan, who played an integral role in the Sustainability & Green Building Subcommittee and Healthier Homes and Communities Subcommittee.
Awards | Sustainability and Green Building
Apr 30, 2025
Global Innovation Home of the Year Brings Wellness to Production Home DesignERTH360, a home design and architecture firm based in Ontario, has spent years focused on bringing wellness concepts to production home design. Its design won the Gold award for GIA Global Innovation Home of Year at NAHB’s The Nationals for 2024.
Latest Economic News
Economics
Apr 30, 2025
The U.S. economy contracted in the first quarter of 2025 for the first time in three years, driven by a sharp surge in pre-tariff imports, softening consumer spending, and a decline in government spending.
Economics
Apr 30, 2025
A record-high 6.8 million households shared their housing with unrelated housemates, roommates or boarders in 2023. While college-age and young adults make up the largest subset of house sharers (close to 41%), this type of living arrangement is gaining popularity among older householders fastest, with the 55+ segment accounting for 30% of all house-sharing households in 2023.
Economics
Apr 29, 2025
Consistent with soft sentiment data, the count of job openings for the overall economy and construction fell in March as employers slowed hiring plans amid a broader economic slowdown, per the March Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS).