Construction Job Openings Approach 400,000
The construction labor market remains tight, approaching an all-time high, as the industry sees a rising number of job openings year-over-year.
The count of open construction jobs increased slightly to 396,000 unfilled positions in March from a 383,000 rate in February. This is significantly higher than the 336,000 count recorded a year ago. The job openings rate in construction remained elevated at 4.9% in March.
The highest measure in the history of the data series (going back to late 2000) was 416,000 open jobs in April 2019. The housing market remains underbuilt and requires additional labor, lots and lumber and building materials to add inventory.
Looking forward, the construction job openings rate is likely to see increased upward pressure as both the residential and nonresidential construction sectors expand. 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
Apr 23, 2025
Decline in Mortgage Rates Helps to Increase New Home Sales in MarchSales of newly built, single-family homes in March increased 7.4% to a 724,000 seasonally adjusted annual rate from a revised January 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 March was up 6.0% compared to a year earlier.
Apr 22, 2025
Ford Pro Joins NAHB's Member Savings ProgramThrough this exclusive program, NAHB members can save up to $5,000 on a wide range of Ford Pro cars, trucks, vans and SUVs. Plus, the member discounts can be combined with local dealership offers.
Latest Economic News
Apr 23, 2025
New Home Sales Rise in MarchA modest decline in mortgage rates and lean existing inventory helped boost new home sales in March even as builders and consumers contend with uncertain market conditions.
Apr 22, 2025
The Power of Women in the WorkforceOver the past 125 years, women have played a crucial and multifaceted role in the labor force. Increasing women’s participation in the workforce is not only essential for individual and family well-being, but also contributes significantly to overall labor force participation rates and economic growth by adding more workers and enhancing overall productivity.
Apr 21, 2025
Who Influences the Purchasing of Building Products?In a previous post, NAHB analyzed where builders and remodelers purchased products, regardless of who ultimately purchases them (themselves or subcontractors). In this post, the question shifts to who is most often responsible for the choice of particular products.