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’ Job Openings and Labor Turnover Survey (JOLTS). 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 this Eye on Housing post.
Latest from NAHBNow
Economics
May 18, 2026
Builder Sentiment Posts Gain in May but Significant Affordability Challenges PersistBuilder confidence posted a modest gain in May even as buyers grapple with rising mortgage rates and economic uncertainty while builders continue to contend with elevated land, labor and construction costs.
Advocacy
May 15, 2026
House Plans Vote on Amended Housing Bill Backed by NAHBThe House has introduced an NAHB-supported amendment to major housing legislation that would bring greater certainty to the housing market and increase the supply of attainable housing.
Latest Economic News
Economics
May 18, 2026
Builder Sentiment Posts Gain in May but Significant Affordability Challenges PersistBuilder confidence posted a modest gain in May even as buyers grapple with rising mortgage rates and economic uncertainty while builders continue to contend with elevated land, labor and construction costs.
Economics
May 15, 2026
Credit for Builders Tightens in the First Quarter, But Only SlightlyCredit conditions on loans for residential Land Acquisition, Development & Construction (AD&C) were still tightening in the first quarter of 2026, but only slightly, according to NAHB’s quarterly survey on AD&C Financing.
Economics
May 15, 2026
Single-Family Permits Continue to Weaken in Early 2026Residential construction permitting activity presented a mixed picture through the first quarter of 2026, as weakness in the single-family market contrasted with continued strength in multifamily development.