Construction Jobs Fall in September
The number of open construction sector jobs trended lower in September, according to the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS). The data indicate the demand for construction labor market remains weaker than a year ago.
Elements of the construction sector slowed in prior months as tight Federal Reserve policy persisted. The number of open construction sector jobs fell from a revised 328,000 in August to a softer 288,000 in September. This September reading was lower than last September's number of 422,000 open, unfilled construction jobs.
The number of open jobs for the overall economy declined from 7.86 million to 7.44 million in September. This is notably smaller than the 9.31 million estimate reported a year ago and a clear sign of a softening aggregate labor market.
Previous NAHB analysis indicated that this number had to fall below 8 million on a sustained basis for the Fed to feel more comfortable about labor market conditions and their potential impacts on inflation. With estimates now remaining near 8 million for national job openings, the Fed has begun a credit easing cycle should continue lowering rates.
NAHB Chief Economist Dr. Robert Dietz provides additional details in this Eye on Housing post.
Latest from NAHBNow
Material Costs
Feb 23, 2026
Supreme Court Strikes Down Trump’s Tariffs – But Uncertainty PersistsThe Supreme Court on Feb. 20 ruled that President Trump’s attempts to use emergency powers under the International Emergency Economic Powers Act (IEEPA) was not valid. But Trump still has wide latitude in setting tariff policy and announced a new global tariff of 15%. American consumers and businesses are unsure how any new tariffs will affect them.
Awards | IBS
Feb 23, 2026
NAHB’s Best in American Living Awards Highlight Top Design Trends for 2026NAHB received nearly 650 application submissions for the 2025 Best in American Living™ Awards, sponsored by Smeg. The winners—66 Gold winners who took home top honors and 159 Silver winners—were announced last week at the NAHB International Builders’ Show in Orlando.
Latest Economic News
Economics
Feb 24, 2026
Young Adult Headship Rates in 2024: Cyclical Slip or New Equilibrium?Reversing the post-pandemic rebound, the headship rates among young adults (the share of the population heading their own households) declined in 2024, according to NAHB’s analysis of the American Community Survey (ACS) data.
Economics
Feb 23, 2026
A 25-Basis-Point Decline in the Mortgage Rate Prices-In 1.42 Million HouseholdsHousing affordability remains a critical challenge nationwide, and mortgage rates continue to play a central role in shaping homebuying power. Although rates have declined from the recent peak of about 7.6% in 2023 to around 6.01% as of February 19,2026, they remain elevated relative to typical levels in the 2010s.
Economics
Feb 20, 2026
New Home Sales Close 2025 with Modest GainsNew home sales ended 2025 on a mixed but resilient note, signaling steady underlying demand despite ongoing affordability and supply constraints. The latest data released today (and delayed because of the government shutdown in fall of 2025) indicate that while month-to-month activity shows a small decline, sales remain stronger than a year ago, signaling that buyer interest in newly built homes has improved.