After a period of slowing associated with declines for some elements of the residential construction industry, the count of open construction sector jobs remained lower than a year ago, per the February Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS).
The number of open jobs for the overall economy declined from 7.76 million in January to 7.57 million in February. This is notably smaller than the 8.45 million estimate reported a year ago and reflects a softened aggregate labor market. Previous NAHB analysis indicated that this number had to fall below 8 million on a sustained basis for the Federal Reserve to feel more comfortable about labor market conditions and their potential impacts on inflation. With estimates remaining below 8 million for national job openings, the Fed, in theory, should be able to cut further despite a recent pause. However, tariff proposals may keep the Fed on pause in the coming quarters.
The number of open construction sector jobs increased from a revised 242,000 in January to 264,000 in February. This nonetheless marks a significant reduction of open, unfilled construction jobs than that registered a year ago (429,000) due to a slowing of construction activity because of ongoing elevated interest rates. The chart below notes the recent decline for the construction job openings rate, which is now back to 2019 levels.
The construction job openings rate edged higher to 3.1% in February, significantly down year-over-year from 5%.
The layoff rate in construction stayed low (1.8%) in February. The quits rate was flat at 2% in February.
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The designers chose the Evaro inset cabinet door style from StarMark, a semicustom cabinet line carried by Studio 912. The clients were willing to embrace color and loved green and blue, so the designers paired green bottom cabinets with white uppers and a wood-tone island (all prefinished StarMark colors).
“I think that was just a really neat way to have a hit of color and some colored cabinetry without feeling like it was scary,” Irion says. “It’s hard to commit to a whole room of color cabinetry.”
To the left of the sink is one of the clients’ wish list items: a pullout for trash and recycling.
StarMark cabinet colors: maple in Marshmallow Cream (wall cabinets), maple in Moon Bay (base cabinets), alder with Oregano stain (island base cabinets)