More than 600,000 Construction Layoffs in March
The number of job losses in the construction sector more than tripled between February and March as the economy was stopped in its tracks by COVID-19.
The Bureau of Labor Statistics Job Openings and Labor Turnover Survey data reveals there were 618,000 layoffs in the construction sector in March, a striking increase over the 202,000 total in February and a 245% jump over the 179,000 count in March 2019. It is expected the count will rise even higher when the BLS releases its April data in June.
The March data showed that the layoff rate in the construction industry surged to 8.1% in March from a 2.6% level in February. This was the highest rate recorded in the history of the JOLTS data, which began at the end of 2001. The largest layoff rates were recorded in accommodation/food services (31.4%) and arts/entertainment/recreation (21.2%).
Providing further analysis in this Eye on Housing blog post, NAHB Chief Economist Robert Dietz notes that current anecdotal evidence and four weeks of gains for mortgage application data suggest that the residential portion of the construction industry labor market may now be bottoming out.
Latest from NAHBNow
Advocacy | Economics
Jun 18, 2025
Podcast: Mid-Year Update on Economic Indicators and Advocacy PrioritiesOn the latest episode of NAHB’s podcast, Housing Developments, COO Paul Lopez welcomes NAHB Chief Economist Dr. Robert Dietz and Chief Advocacy Officer Ken Wingert for a mid-year check in on key economic indicators and NAHB policy priorities driving home building for the rest of 2025.
Economics
Jun 18, 2025
Sharp Drop in Multifamily Production Brings Overall Housing Starts DownOverall housing starts decreased 9.8% in May to a seasonally adjusted annual rate of 1.26 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Latest Economic News
Economics
Jun 18, 2025
Sharp Drop in Multifamily Production Brings Overall Housing Starts DownA sharp decline in multifamily production pushed overall housing starts down in May, while single-family output was essentially flat due to economic and tariff uncertainty along with elevated interest rates.
Economics
Jun 17, 2025
Builder Sentiment at Third Lowest Reading Since 2012In a further sign of declining builder sentiment, the use of price incentives increased sharply in June as the housing market continues to soften.
Economics
Jun 16, 2025
Permit Activity Weakens in April 2025Housing permits continued a downhill trend for the fourth month in a row, pointing to a broader residential construction slowdown for 2025. Over the first four months of 2025, the total number of single-family permits issued year-to-date (YTD) nationwide reached 320,259.