Recovering Real Estate Market Creates Jobs

The U.S. construction industry has been quietly making a comeback, according to new research from WANTED Analytics, a leading source of real-time business intelligence for the talent marketplace.

WANTED data shows slow, steady growth over the past three years.

For a sector that was hit hard by the recession, this is indeed good news. But the news gets even better, and has wider implications.

The number of construction job ads grew 26 percent in July compared to July 2012. In addition, hiring has more than doubled over the past four years.

In some parts of the country, construction hiring is way up ? in Houston, which tops the list, hiring is up 62 percent year over year.

Momentum is building in the building business, buoyed largely by a recovering real estate market ? and here too the numbers are noteworthy.

The Wall Street Journal reports that, according to the National Association of Realtors, home prices are soaring in some areas.

A healthy real estate market has a trickle down effect ? home improvement retailers, furniture manufacturers and sellers, and others benefit from a boom. Of course, the market is not at the boom stage yet, but it has come a long way from bust.

And improvement in the real estate sector is starting to produce jobs, in construction and elsewhere.

It?s also worth noting that a rise in home values has a positive psychological effect; and, while difficult to quantify, this influences consumer spending and ultimately the job market.

Think about it. If, instead of watching real estate prices plummet, a homeowner starts to see a return on investment, chances are he or she will feel more comfortable making discretionary purchases. This has the potential to impact a wide range of industries, including but not limited to the automotive industry (which has already made an incredible turnaround in a few short years) and travel, leisure, and hospitality (another sector that has been doing well).

Even seemingly disparate industries are often connected, and job creation builds on trends within these connections. In assessing your business?s employment outlook, are you looking beyond your immediate industry, at the bigger picture?

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Source: http://www.recruitingtrends.com/recovering-real-estate-market-creates-jobs/

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