Recent Blog Posts

The count of unfilled jobs in the overall construction sector declined recently, as residential construction employment accelerated in the last three months. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) came in at 148,000 in December. The cycle high was 225,000 set in July. The open position rate (job openings as a percent of total employment) for December was 2.2%.

For the country as a whole, the NAHB/First American Leadings Markets Index (LMI), released today, rose to .99 in the fourth quarter of 2016, .01 point higher than its level in the third quarter of 2016, .98, and .05 point higher than its level from one year ago, .94. The LMI is now .21 point above its low of .78 reached in March 2012. The index uses single-family housing permits, employment, and home prices to measure proximity to a normal economic and housing market. The index is calculated for both the entire country and for 337 local markets, metropolitan statistical areas (MSAs).