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
Material Costs
Aug 24, 2026
U.S.-Canada Trade Tensions Add to Market Uncertainty
The escalating U.S.-Canada trade dispute is a setback for residential construction. Talks between the two countries collapsed last Friday, and President Trump proceeded with his threat to impose 50% tariffs on about $20 billion in Canadian goods.
IBS | Remodeling
Aug 24, 2026
Invisible Upgrades Key to Performance Goals of IBS 2027 Show Home
A full-scale reinvention of a dated, luxury home is well underway for The New American Remodel 2027. Much of the recent work has focused on changes that won't be visible once the project is finished but are critical to its lofty, high-performance goals.
Latest Economic News
Economics
Aug 24, 2026
Second Quarter 2026 Multifamily Construction Data
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts increased year-over-year during the second quarter of 2026.
Economics
Aug 24, 2026
Cost of Materials Rises, Especially for Smaller Builders
Material costs increased by 6.7% over the previous year, according to results from the survey for the July 2026 NAHB/Wells Fargo Housing Market Index (HMI).
Economics
Aug 21, 2026
State-Level Employment Situation: July 2026
The labor market continued to lose momentum in July, with total nonfarm payroll employment declining nationally and employment gains becoming more limited across states.