{"id":213673,"date":"2025-04-29T23:21:42","date_gmt":"2025-04-29T23:21:42","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/jobs-openings-fall-as-economy-slows\/"},"modified":"2025-04-29T23:21:42","modified_gmt":"2025-04-29T23:21:42","slug":"jobs-openings-fall-as-economy-slows","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=213673","title":{"rendered":"Jobs Openings Fall as Economy Slows"},"content":{"rendered":"


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Consistent with soft sentiment data, the count of job openings for the overall economy and construction fell in March as employers slowed hiring plans amid a broader economic slowdown, per the March Bureau of Labor Statistics\u00a0Job Openings and Labor Turnover Survey (JOLTS)<\/a>.<\/p>\n

The number of open jobs for the overall economy declined from 7.48 million in February to 7.19 million in March. This is notably smaller than the 8.09 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 move on interest rate reductions. With estimates remaining below 8 million for national job openings, the Fed, in theory, should be able to cut further despite a\u00a0recent pause<\/a>. However, tariff proposals may keep the Fed on pause in the coming quarters.<\/p>\n

The number of open construction sector jobs fell from a revised 286,000 in February to 248,000 in March. This nonetheless marks a significant reduction of open, unfilled construction jobs than that registered a year ago (338,000) due to a slowing of construction activity. The chart below notes the recent decline for the construction job openings rate, which is now back to 2019 levels.<\/p>\n

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The construction job openings rate moved lower to 2.9% in March, significantly down year-over-year from 4%.<\/p>\n

The layoff rate in construction stayed low (1.7%) in March. The quits rate declined to 1.8% in March.<\/p>\n

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Consistent with soft sentiment data, the count of job openings for the overall economy and construction fell in March as employers slowed hiring plans amid a broader economic slowdown, per the March Bureau of Labor Statistics\u00a0Job Openings and Labor Turnover Survey (JOLTS). 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