Legislation that NAHB has been seeking for two years that would allow new housing developments to go forward in California and bring down insurance costs for home buyers and home owners was introduced in Congress today.
NAHB leadership, including committee and council members, will gather June 10-13 for the 2025 Spring Leadership Meeting in Washington, D.C. Members and HBA staff unable to attend in person still have the option to view livestreams of key meetings.
To keep the momentum going between each International Builders' Show (IBS), NAHB hosts a series of free IBS Education Webinars — highlighting top trends, and pro tips and skills — which kicks off June 11.
Despite ongoing economic and policy uncertainty, the labor market remains resilient, though early signs of softening are beginning to emerge. Job growth moderated in May, and employment figures for March and April were notably revised downward. The unemployment rate remained at 4.2%. In May, wage growth remained unchanged. Year-over-year, wages grew at a 3.9% rate. Wage growth has been outpacing inflation for nearly two years, which typically occurs as productivity increases. National Employment According to the Employment Situation Summary reported by the Bureau of Labor Statistics (BLS), total nonfarm payroll employment rose by 139,000 in May, following a downwardly revised increase of 147,000 jobs in April. Since January 2021, the U.S. job market has added jobs for 53 consecutive months, making it the third-longest period of employment expansion on record. Monthly employment growth has averaged 124,000 per month in 2025, compared with the 168,000 monthly average gain for 2024. The estimates for the previous two months were revised down. The monthly change in total nonfarm payroll employment for March was revised down by 65,000 from +185,000 to +120,000, while the change for April was revised down by 30,000 from +177,000 to +147,000. Combined, the revisions were 95,000 lower than previously reported. The unemployment rate remained unchanged at 4.2% in May. Despite this stability, the overall labor force shrank with notable shifts. The number of employed persons decreased by 696,000, while the number of unemployed persons increased by 71,000. Meanwhile, the labor force participation rate—the proportion of the population either looking for a job or already holding a job—decreased two percentage points to 62.4%. The overall labor force participation rate remains below its pre-pandemic levels of 63.3% at the beginning of 2020. Among individuals aged 25 to 54, the participation rate declined two percentage points to 83.4%. The rate for the prime working-age group (25 to 54) has been trending downward since peaking at 83.9% last summer. In May, industries like health care (+62,000), leisure and hospitality (+48,000), and social assistance (+16,000) continued to see gains. Meanwhile, federal government lost 22,000 jobs in May and has shed 59,000 jobs since January 2025, reflecting the effects of government cutbacks. The BLS notes that “employees on paid leave or receiving ongoing severance pay are counted as employed in the establishment survey.” Construction Employment Employment in the overall construction sector rose by 4,000 in May, following a downwardly revised gain of 7,000 in April. While residential construction lost 7,400 jobs, non-residential construction employment added 11,300 jobs during the month. Residential construction employment now stands at 3.3 million in May, broken down as 963,000 builders and 2.4 million residential specialty trade contractors. The six-month moving average of job gains for residential construction was -2,617 a month, reflecting job losses recorded in three of the past six months, specifically in January, March, and May of 2025. 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. In May, the unemployment rate for construction workers declined to 3.8% on a seasonally adjusted basis. The unemployment rate for construction workers has remained at a relatively lower level, after reaching 15.3% in April 2020 due to the housing demand impact of the COVID-19 pandemic. Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.
In a market full of tight credit, cautious banks and rising costs, builders need peace of mind. That can come from having more financial flexibility, safety and breathing room. Sound Capital has a solution.
On the latest episode of NAHB’s podcast, Housing Developments, NAHB CEO Jim Tobin and COO Paul Lopez react to the latest news on Job Corps and what it means for the home building industry.
NAHB encourages all members to join the Federation and official safety sponsor Builders Mutual in recognizing June as National Safety Month, an annual observance to promote hazard awareness in residential construction and to help keep workers safe on the jobs.
To highlight the home’s central role in our lives, NAHB has an online toolkit to help members celebrate National Homeownership Month throughout June.
We are hearing from members and exhibitors that they have received emails inquiring about their interest in purchasing the NAHB International Builders’ Show’s attendee list. These solicitations are scams.
Wage growth in construction continued to decelerate in April on a national basis, but the differences across regional markets remain stark. Nationally, average hourly earnings (AHE) in construction increased 3.6% year-over-year and crossed the $39.3 mark when averaged across all payroll employees (non-seasonally adjusted, NSA).1 Meanwhile, average earnings in construction in Alaska and Massachusetts exceeded $50 per hour (NSA). Across states, the annual growth rate in AHE ranged from 10.6% in Nevada to a decline of 3% in Oklahoma. This is according to the latest Current Employment Statistics (CES) report from the Bureau of Labor Statistics (BLS). Average hourly earnings (AHE) in construction vary greatly across 43 states that report these data. Alaska, states along the Pacific coast, Illinois, Minnesota, and the majority of states in Northeast record the highest AHE. As of April 2025, fourteen states report average earnings (NSA) exceeding $40 per hour. At the other end of the spectrum, nine states report NSA average hourly earnings in construction under $34. The states with the lowest AHE are mostly in the South, with Arkansas reporting the lowest rate of $29.3 per hour. While differences in regional hourly rates reflect variation in the cost of living across states among other things, the faster growing wages are more likely to indicate specific labor markets that are particularly tight. Year-over-year, Nevada, Mississippi, Alaska, Colorado, Texas, Florida, South Carolina, and Montana reported fastest growing hourly wages in construction, more than doubling the national average growth of 3.6%. Nevada reported the largest annual increase of 10.6%, while the growth rate in Mississippi and Alaska was just under 10%. In sharp contrast, Oklahoma registered a decline in hourly wages of 3%. Five other states reported modestly declining hourly rates in construction, compared to a year ago – Louisiana, Missouri, Rhode Island, California, and Wisconsin. AHE measures wage rates including overtime but does not include benefit costs and payroll taxes. Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.