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
Jun 02, 2026
Economic Uncertainty Slows Single-Family Construction Across All GeographiesSingle-family home construction declined across all geographic regions in the first quarter of 2026 due to economic uncertainty, high material costs and elevated interest rates, while multifamily construction showed growth in most areas, according to the latest findings from the NAHB Home Building Geography Index (HBGI).
Safety
Jun 01, 2026
Focus on Jobsite Plans During National Safety MonthJoin NAHB and its official safety sponsor, Builders Mutual, in recognizing June as National Safety Month, an annual observance to promote hazard awareness in residential construction and to help keep workers safe.
Latest Economic News
Economics
Jun 02, 2026
Slight Increase for Construction Job OpeningsThe number of open positions in the construction sector edged higher in April, per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS).
Economics
Jun 02, 2026
HBGI Q1 2026: Single-Family Construction Slips Across All GeographiesSingle-family construction declined across all geographies in the first quarter of 2026, according to the latest Home Building Geography Index (HBGI), as elevated interest rates, rising material costs, and labor shortages slowed home building activities at the start of the year. Meanwhile, multifamily construction remained broadly resilient, posting growth in most markets.
Economics
Jun 01, 2026
Private Residential Construction Spending Increases in AprilPrivate residential construction spending was up 0.8% in April 2026, following the monthly gain of 0.6% in March. This increase was largely driven by gains in single-family, and home improvement spending. Moreover, total private residential construction spending was 1.7% higher than a year ago.