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 11, 2026
Widespread U.S. Housing Ballot Wins; Two Key NAHB-Backed Defeats
Although housing ballot measures fared well nationwide in the midterm elections, two NAHB-backed initiatives were defeated: one to streamline environmental reviews in California and another to address minimum lot sizes for single-family homes in Massachusetts.
Economics | Member Benefits | Housing Affordability
Nov 10, 2026
New Priced-Out Calculator Brings Local Housing Affordability Into Focus
What does a change in mortgage rates or home prices mean for prospective home buyers in your market? NAHB’s new Priced-Out Housing Calculator helps answer that question.
Latest Economic News
Economics
Nov 10, 2026
Consumer Credit Growth Picks Up in the Third Quarter of 2026
Consumer credit growth accelerated in the third quarter of 2026, with both revolving and nonrevolving credit increasing at their fastest quarterly rates since 2022. Total outstanding consumer credit reached $5.22 trillion, continuing an upward trend that has strengthened over the past year.
Economics
Nov 10, 2026
Inflation Persists in October
Inflation remained elevated in October even as energy prices eased, raising expectations of another Fed rate hike. Shelter returned as the largest driver of headline inflation, accounting for over 30% of the monthly increase. Core inflation, which excludes volatile food and energy components, rose by 0.3% for the third consecutive month, suggesting broad-based price pressures across the economy.
Economics
Nov 09, 2026
Residential Building Worker Wage Growth Rebounds, but Real Wages Continue to Decline
Wage growth for residential building workers showed signs of a modest rebound in September 2026 following a sharp slowdown earlier in the year. According to the latest data from the U.S. Bureau of Labor Statistics, nominal wage growth picked up from its June pace, although it remained relatively modest.