Job Losses Recorded Across Residential Construction Sector

Following a dip in employment in April, the construction industry overall added 7,000 new jobs in May, making up for the residential sector in which employment declined by 7,400 workers, according to the National Association of Home Builders. Residential construction employment now sits at 3.3 million jobs, which includes 963,000 builders and 2.4 million residential specialty trade contractors. With job losses recorded in three out of the past six months, the six-month moving average of job gains for residential construction was -2,617 in May.

Over the last 12 months, home builders and remodelers experienced a net loss of 1,000 jobs, marking the first annual decline since September 2020. Since the low point following the Great Recession, residential construction has gained 1,360,600 positions.