Open Construction Jobs Jumped to Record-high

According to the NAHB, the count of open construction jobs jumped to a record-high 449,000 unfilled positions in April, according to the Job Openings and Labor Turnover Survey data from the Bureau of Labor Statistics.

The construction labor market remains tight, as the industry sees a rising number of job openings year-over-year. The housing market remains underbuilt and requires additional labor, lots, and lumber and building materials to add inventory. However, the market is now slowing due to higher interest rates and this will likely be reflected in construction labor market data in the months ahead.

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