U.S. Full-Time employment is shrinking.
Today's full-time worker count of 133.6M is only 1.4% above 2019 levels.
And down 2.3M from the January 2025 peak.
Meaning no meaningful growth in America's full-time workforce in nearly seven years.
That's becoming another headwind for housing.
A strong full-time job market supports household formation, mortgage qualification, and ultimately homebuyer demand.
And right now, that job growth is basically non-existent.
What's unusual is that previous periods of economic expansion in the U.S. came with significant growth in full-time jobs.
This one hasn't.
U.S. Full-Time employment is shrinking.
Today's full-time worker count of 133.6M is only 1.4% above 2019 levels.
And down 2.3M from the January 2025 peak.
Meaning no meaningful growth in America's full-time workforce in nearly seven years.
That's becoming another headwind for housing.
A strong full-time job market supports household formation, mortgage qualification, and ultimately homebuyer demand.
And right now, that job growth is basically non-existent.
What's unusual is that previous periods of economic expansion in the U.S. came with significant growth in full-time jobs.
This one hasn't.