Hardware Retailing The Industry's Source for Insights and Information
Job growth in the U.S. moderated in May despite ongoing economic and policy uncertainty, with the unemployment rate remaining at 4.2%, according to an analysis by the National Association of Home Builder’s (NAHB) Eye on Housing.
Over the past 12 months, average hourly earnings have increased by 3.9%, and 139,000 jobs were added in May, according to the U.S. Bureau of Labor Statistic’s May 2025 Employment Situation Summary.
Monthly employment growth has averaged 124,000 per month in 2025, compared to the 168,000 monthly average gain in 2024.
The labor force market participation rate decreased two percentage points in May to 62.4%, remaining below pre-pandemic levels of 63.3%
Employment in the overall construction sector increased by 4,000 in May, following a gain of 7,000 in April. Residential construction lost 7,400 jobs and non-residential construction employment added 11,300 jobs in May.
In May, the unemployment rate for construction workers declined to 3.8%, seasonally adjusted. Residential construction employment stands at 3.3 million in May, including 963,000 builders and 2.4 million residential specialty trade contractors.
