Residential construction shed 8,600 jobs in June, even as total construction employment added 11,000 positions, signaling weaker hiring in the housing segment.
57,000 nonfarm jobs were added across the U.S. economy in June—the smallest monthly gain since February’s decline—while labor force participation fell and the national unemployment rate held at 4.2%.
6.2% unemployment among construction workers in June, up from 5.2% in May, marked the sector’s highest jobless rate since July 2021.
48,800 residential construction jobs have been lost over the past 12 months, leaving the home building industry at about 3.3 million workers as builders and contractors reassess hiring and project plans.