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Study: Employment, Housing Growth See Mutual Boost

While it's no secret that the recovering job market has helped to lift housing, a study from ""CareerBuilder"":http://www.careerbuilder.com/ and ""Economic Modeling Specialists"":http://www.economicmodeling.com/ (EMSI) shows the benefits work both ways.


""Several industry segments closely tied to the housing sector have experienced encouraging job growth over the last 12 to 18 months as home prices and sales inch up, and the economy improves,"" said CareerBuilder CEO Matt Ferguson. ""While some segments may still be trailing pre-recession employment levels and may not fully recover jobs lost, we're seeing signs of a rebound in everything from construction and mortgage banking to home furnishing stores.""

According to the companies' findings, the construction industry has added more than 187,000 jobs since 2011, an increase of 2 percent, and 7.8 million people are currently employed in that segment.

Housing-related industries outside the construction sector have also seen employment growth. Since 2011, the United States has created more than 59,000 housing supply chain jobs, including 19,317 new mortgage and non-mortgage loan broker jobs (a growth of 30 percent); 23,849 home center/home furnishing jobs (3 percent); 11,305 building materials dealer jobs (4 percent); 4,062 hardware, paint, and wallpaper store jobs (2 percent); and 1,828 upholstered furniture manufacturing jobs (4 percent).

CareerBuilder and EMSI also observed promising growth trends among metropolitan statistical areas (MSAs) that have reported increases in home values and housing market activity. In Phoenix--one of the biggest names in the housing recovery--employment has grown 4 percent since 2011, largely on the shoulders of increases in construction jobs (11 percent) and other housing supply chain jobs (5 percent).

Similar trends were seen in Los Angeles (3 percent employment growth since 2011), Denver (5 percent), San Francisco (5 percent), and Las Vegas (4 percent).


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