Flat Job Openings for Construction
In May, the number of open construction jobs remained steady at around 245,000, down significantly from 375,000 a year ago due to a slowdown in housing activity. While overall U.S. job openings rose slightly to 7.77 million, they stayed below the 8 million threshold that could support future Federal Reserve interest rate cuts. The construction job openings rate is now near its lowest level since 2019, reflecting broader softening in the labor market.
