Residential Construction Hiring Up More Than 300,000 in Last Two Months
The U.S. Department of Labor reported that total payroll employment increased 4.8 million in June as the overall construction sector added 158,000 jobs after a revised increase of 453,000 in May. The number of residential construction jobs rose by 83,200 in June, after an increase of 224,200 in May.
Residential construction employment now stands at 2.8 million in June, broken down as 795,000 builders and 2.0 million residential specialty trade contractors. The six-month moving average of monthly job changes for residential construction is minus 17,983 a month, mainly reflecting the largest job loss in April. Over the last 12 months, home builders and remodelers shed 83,900 jobs on a net basis. Since the low point following the Great Recession, residential construction has gained 834,200 positions.
In June, the unemployment rate for construction workers dropped to 12.0% on a seasonally adjusted basis, from 15.2% in May. The unemployment rate for construction workers has trended downward for the past 10 years and remained at a relative low level in the beginning of 2020. The recent unemployment rate reflected the impact of the COVID-19 pandemic on construction industry.
NAHB economist Jing Fu provides more analysis in this Eye on Housing blog post.
Latest from NAHBNow
Economics
May 23, 2025
Volatile Spring Selling Season ContinuesSales of newly built, single-family homes in April increased 10.9% to a 743,000 seasonally adjusted annual rate from a downwardly revised March number, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales in April was up 3.3% compared to a year earlier.
Material Costs
May 22, 2025
NAHB Members Cite Impact of Tariff Uncertainty on Home BuildingTariff uncertainty from the Trump administration continues to impact home builders across the country, as builders prepare for potential price hikes and supply chain issues. NAHB members have been sharing the impact that these tariffs are having with media outlets across the United States.
Latest Economic News
Economics
May 22, 2025
Existing Home Sales Fall in AprilDespite the brief retreat in mortgage rates and increased supply, existing home sales dropped to 7-month low in April, according to the National Association of Realtors (NAR). This unexpected decline suggests buyers’ activity continues to be constrained by economic uncertainty and ongoing affordability challenges even with improved market conditions.
Economics
May 22, 2025
Income Growth Helps Mute Existing Affordability ConstraintsDespite solid income gains and lower home prices, Americans still continue to face major housing affordability challenges, according to the latest data from the National Association of Home Builders (NAHB)/Wells Fargo Cost of Housing Index (CHI).
Economics
May 21, 2025
Gains for Multifamily Missing Middle over Last YearThe missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties.