As if anyone in the home building industry needed any
further proof, February’s employment numbers for the home building /
remodeling industries comes in at 2.436 million with 688,000 being
builders and the other 1.748 million specialty trade contractors.
Counting contractors and subs is very important because most of the work
done in residential and commercial construction is done by
contractors and sub-contractors.
It is very evident that economic recovery and home building employment go hand-in-hand because in the month of February alone, the real estate market added 16,700 jobs bringing the number of people employed by the construction industry to 168,000 jobs in the last 12 months. The average number of jobs added per month over the last 6 months has been approximately 15,000 jobs per month, and the total amount of construction jobs for both residential builders and remodelers has been 449,700 positions since the low point of the Great Recession.
Overall, according to a new study by the National Association of Home Builders (NAHB), 3.5 million people worked in residential construction during the year of 2013. These numbers include self-employed workers who are typically subs. The numbers do not include the ripple effect that is created by the construction industry for those businesses which are associated with the residential home building process. These side industries can include decorators, landscapers, alarm installation
companies, electronics / surround / home theater
companies, building materials supplies, custom cabinetry / built-ins /
closet companies, etc. Just considering the “bare bones” impact of the
home building industry on the employment numbers in the United States in
2013, residential construction employment made up 2.4% of the employed
civilian labor force. California came in first with the most employees
of residential construction, and Florida came in second.
The impact of both commercial and residential construction employment is something that the NAHB watches closely. They monitor turnover rates, employment rates, layoff rates, and job quits, and sector hiring to try to advise Congress on the impacts of regulations that are imposed by legislation both nationally and at a state level. Employment numbers will need to rise from 3.5 million to 5 million in residential construction and from 8.9 million to 11 million in overall construction in order to be considered “back to normal” in today’s housing market.
View This Blog on Bedico Creek's Website.
Click Here and Here for the Sources of the Information.
It is very evident that economic recovery and home building employment go hand-in-hand because in the month of February alone, the real estate market added 16,700 jobs bringing the number of people employed by the construction industry to 168,000 jobs in the last 12 months. The average number of jobs added per month over the last 6 months has been approximately 15,000 jobs per month, and the total amount of construction jobs for both residential builders and remodelers has been 449,700 positions since the low point of the Great Recession.
Overall, according to a new study by the National Association of Home Builders (NAHB), 3.5 million people worked in residential construction during the year of 2013. These numbers include self-employed workers who are typically subs. The numbers do not include the ripple effect that is created by the construction industry for those businesses which are associated with the residential home building process. These side industries can include decorators, landscapers, alarm installation
The impact of both commercial and residential construction employment is something that the NAHB watches closely. They monitor turnover rates, employment rates, layoff rates, and job quits, and sector hiring to try to advise Congress on the impacts of regulations that are imposed by legislation both nationally and at a state level. Employment numbers will need to rise from 3.5 million to 5 million in residential construction and from 8.9 million to 11 million in overall construction in order to be considered “back to normal” in today’s housing market.
View This Blog on Bedico Creek's Website.
Click Here and Here for the Sources of the Information.
No comments:
Post a Comment