A new analysis from the National Association of Home Builders analyzed the jobs-to-permits ratio. The analysis used net new jobs created in 2024 and measured against housing permits issued in 2023 to gauge the typical time required for permitted units to move through the construction pipeline and reach the market. Using this framework, the analysis revealed that the U.S. economy added approximately 1.8 million net new jobs in 2024 relative to 2023, while total housing permits issued in 2023 reached 1.51 million units. This results in an overall jobs-to-permits ratio…
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Construction activity softens
According to the Federal Reserve Bank of Minneapolis’s spring Construction Survey, construction activity has softened in the first months of 2026. Higher material costs and ongoing economic uncertainty are the driving factors, with more than half of respondents, approximately 54%, reporting decreased activity in the industry overall. However, signs point to optimism for the remainder of 2026 within residential construction. Despite tough conditions for some, roughly four in 10 businesses reported hiring more construction workers and increasing hours for existing employees in advance of the busy season. In general, labor…
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