Join Us to Help Prevent Suicide in the Construction Industry
September is National Suicide Prevention Month, and you might be stunned by the statistics related to suicide in the construction industry. While approximately 1,000 construction workers die each year from work-related accidents, nearly five times as many workers will die from suicide.
In fact, the Centers for Disease Control and Prevention ranks construction among the industries with the nation’s highest rate of death by suicide.
NAHB and its official safety sponsor, Builders Mutual, are committed to saving more lives. Here are some resources that should be shared across the industry to hopefully put an end to this growing crisis.
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Latest Economic News
The U.S. labor market rebounded in October, with nonfarm payroll employment increasing by 165,000 jobs and the unemployment rate declining to 4.1%. However, the improvement in overall employment contrasts with continued weakness in residential construction, where employment fell by 16,400 jobs, the largest monthly decline since March 2021.
New multifamily housing confidence weakened year-over-year in the third quarter, according to the Multifamily Market Survey (MMS) by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) had a reading of 41, down five points year-over-year, while the Multifamily Occupancy Index (MOI) had a reading of 69, also down five points year-over-year.
Mortgage application activity declined in October as the 30-year fixed mortgage rate rose sharply again. The Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of total mortgage application volume, fell 14.1% month-over-month in October on a seasonally adjusted basis. Compared to a year ago, total mortgage applications were 39.8% lower.