Construction Job Openings Surge to Record High
The labor market continues to tighten, especially for the construction industry.
The count of open construction jobs increased to 410,000 unfilled positions in October, the highest measure in the history of the Job Openings and Labor Turnover Survey data from the Bureau of Labor Statistics data series (going back to late 2000).
The housing market remains underbuilt and requires additional labor, lots, and lumber and building materials to add inventory.
The job openings rate in construction surged to 5.4% in October, with 410,000 open positions in the sector. This is significantly higher than the 253,000 count recorded a year ago.
Looking forward, the construction job openings rate is likely to see increased upward pressure as both the residential and nonresidential construction sectors trend higher. Attracting skilled labor will remain a key objective for construction firms in the coming quarters and will become more challenging as the labor market strengthens and the unemployment rate declines.
NAHB Chief Economist Robert Dietz provides more analysis in this Eye on Housing blog post.
Latest from NAHBNow
Advocacy
Apr 03, 2026
NAHB’s Monthly Update Features a Codes Victory and Economic SnapshotThe talking points this month feature news related to federal energy code mandates and the current economic conditions for the housing industry.
Safety
Apr 02, 2026
Call Before You Dig: 6 Key Steps to Prevent Utility Strikes on the JobsiteApril’s National Safe Digging Month is a timely reminder for builders, contractors and trade partners to prioritize one of the most critical and often overlooked jobsite safety practices: preventing utility strikes.
Latest Economic News
Economics
Apr 03, 2026
Job Growth Rebounds in MarchThe U.S. labor market showed signs of a modest rebound in March following a weak February, as payroll employment increased and the unemployment rate edged down to 4.3%. Job growth was led by healthcare, construction, and transportation and warehousing.
Economics
Apr 02, 2026
Iran Conflict Reverses Decline in Mortgage RatesMortgage rates, which dipped below 6% in February, climbed back up to end the month just under 6.4%. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.18% in March, 13 points (bps) higher than February. The average 15-year rate also increased by the same amount to 5.56%. Despite the recent increase, both rates remain lower than a year ago by 47 bps and 27 bps, respectively.
Economics
Apr 01, 2026
Consumer Confidence Climbs Despite Oil Price SurgeConsumer confidence in March rose to a three-month high as consumers’ improved view of current business and labor market conditions outweighed weaker future expectations.