US Construction Sector Job Openings Fall in June

A closer look at the Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover Survey (JOLTS) for June, with a focus on the construction sector and additional analysis by the National Association of Home Builders (NAHB), reveals that the number of open construction sector jobs shifted notably lower in June, falling from 366,000 positions in May to 295,000 positions in June.

The NAHB notes that elements of the construction sector have slowed as elevated interest rates held, most notably multifamily development. This slowing has somewhat reduced demand for construction workers, lowering the job opening count for the construction industry. The open job count was 414,000 a year ago.

The construction job openings rate fell to 3.5% in June, the lowest rate since March 2023. The job openings rate has trended lower as the number of single-family and multifamily residences under construction has declined—a cyclical effect that will likely reverse in 2025, the NAHB said.

The layoff rate in construction edged lower to 1.6%, down from 1.8% in May. The quits rate in construction fell back to 1.5%, down from 2.3% in May. These readings indicate that the retreat for job openings represents a slowing of new position intended hiring in construction, rather than labor market churn.