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
Advocacy
Nov 13, 2026
Podcast: Mayor Touts Housing as Foundation of Memphis Growth Strategy
On the latest episode of NAHB’s podcast, Housing Developments, COO Paul Lopez and guest host Karl Eckhart, NAHB VP of State and Local Government Affairs, welcome Mayor Paul Young of Memphis, Tenn.
Sponsored Content
Nov 12, 2026
What's Really Stalling Buyers, and the Sales You're Leaving on the Table
Buyers need enough money left over each month to live comfortably. And builders need enough margin and capital left over to keep building. Understanding the buyers' needs is essential to protecting your business.
Latest Economic News
Economics
Nov 13, 2026
Building Material Price Inflation Remains High Despite Energy Price Declines
The Producer Price Index for final demand was up 0.3% in October, after rising 1.4% in September. Compared to a year ago, final demand prices were up 6.5%.
Economics
Nov 13, 2026
No Relief: Credit Conditions for Builders Still Tightening
Credit conditions on loans for residential Land Acquisition, Development & Construction (AD&C) were still tightening in the third quarter of 2026, according to NAHB’s quarterly survey on AD&C Financing. The net easing index derived from the survey posted a third-quarter reading of -15.3 (the negative number indicating net tightening).
Economics
Nov 12, 2026
Existing Home Sales Fell to 16-Year Low
After a brief rebound last month, existing home sales plummeted to a 16-year low in October. With mortgage rates back above 7% since mid-September and home prices still elevated, buyers continued to stay on the sidelines.