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CareerBuilder And EMSI Research Reveals How The Housing Market Recovery Has Influenced New Job Creation In The U.S.

CHICAGO, June 6, 2013 /PRNewswire/ -- The fact that more people are gainfully employed in the U.S. today has helped to bolster the housing market, but how much has the housing recovery in turn helped employment?  CareerBuilder and Economic Modeling Specialists (EMSI) answer this question with a new study tracking labor trends in the U.S.  The study uses EMSI's vast labor market database, which pulls from over 90 national and state employment resources and includes detailed information on employees and self-employed workers. 1

"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 Matt Ferguson, CEO of CareerBuilder.  "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."   

Housing-Related EmploymentAfter experiencing heavy job losses during the recession, the construction industry is building up its headcount again.  Since 2011, the U.S. has added more than 187,000 construction jobs, an increase of 2 percent. 
  • 7,794,077 people currently employed in this segment

Housing-related industries outside of construction have also produced a steady stream of new jobs.  Since 2011, the U.S. has created more than 59,000 additional housing supply chain 2 jobs, an increase of 3 percent. 
  • 1,755,863 people currently employed in this segment

Looking at a sample of specific segments within the housing supply chain, there has been an upward trajectory for job creation from 2011 to 2013:

Mortgage and Nonmortgage Loan Brokers
  • Added 19,317 jobs since 2011, 30 percent growth
  • 84,759 people currently employed

Home Centers and Other Home Furnishing Stores
  • Added 23,849 jobs since 2011, 3 percent growth
  • 823,496 people currently employed

Building Materials Dealers
  • Added 11,305 jobs since 2011, 4 percent growth
  • 317,987 people currently employed

Hardware, Paint and Wallpaper Stores
  • Added 4,062 jobs since 2011, 2 percent growth
  • 184,017 people currently employed

Upholstered Household Furniture Manufacturing
  • Added 1,828 jobs since 2011, 4 percent growth
  • 53,838 people currently employed

Similar growth trends are apparent among Metropolitan Statistical Areas (MSAs) that are showing notable increases in home values and housing market activity 3

Los Angeles
  • Added 191,343 total jobs since 2011, 3 percent growth
  • Added 22,318 construction jobs, 8 percent growth
  • Added 3,138 other housing supply chain jobs, 5 percent growth

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