An improving housing market means more jobs
Have you seen any billboards advertising new housing developments lately?
If so, take it as a sign that employment is growing in your area, with jobs for tradesmen, sales agents and others.
“Construction activity is likely to increase over the next year,” observes Trulia.com economist Jed Kolko. “Construction is still roughly 40 percent below ‘normal’ levels today, so the industry has lots of room to grow. The regions that will benefit most from construction activity are those where housing demand is strong, and there are relatively few vacant homes left over from the last housing bubble, such as Texas and the Carolinas.”
Today’s new building requires newly minted tradesmen. Many former workers left the construction business during the downturn and have retrained in new occupations, notes John Courson, president of the trade group, Home Builders Institute.
To teach future carpenters, bricklayers and other skilled workers, HBI has developed pre-apprenticeship training and Job Corps programs to train new workers, especially young adults.
Recovery in the overall housing market also brings jobs, since buyers of both newly constructed and existing homes need products and services.
In the second half of this year, Moody’s Analytics predicts 111,000 housing-related jobs will be created, and in 2014, some 368,000 will be added.
Still, experts say the number of positions will vary by region and business type.
The need for mortgage loan originators, for instance, probably won’t rise along with home sales, since staffing levels are already high from the recent boom in mortgage refinancing, notes Sam Garcia, publisher of Mortgage News Daily.
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