The number of open construction jobs on a seasonally adjusted basis dropped to 154,000 in May, down from a high of 238,000 in July 2016.
According to NAHB, the open position rate, which is job openings as a percent of total employment, was 2.2 percent. The construction sector hiring rate moved up to 5.2 percent in May. The quits rate is down to 2 percent.
Overall, the labor market for construction workers remains tight as it continues to expand. Home builders and remodelers added 115,600 job over the last 12 months, and industry employment has increased by almost 713,000 since the low point after the Great Recession. As housing starts continue to increase, more workers will be needed in the residential construction sector.