January 31, 2023 | Warren Shoulberg
New home builders association statistics suggest that open construction trade jobs peaked late last year.
In what comes as little surprise to those in the trade as the housing market and the overall construction industry has slowed, it looks like the number of job openings in the field has peaked and begun to decline.
New statistics from the National Home Builders Association show that this past November (the last month for which there are numbers available) construction job openings declined from 390,000 the previous month to 388,000. Overall hiring in the building sector dropped to a 4 percent rate for the month.
The NAHB analysis cites higher interest rates and the reduced amount of funds available for lending as the most likely drivers of the drop, as marginal as it was.
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