Is Housing Recovery Finally Generating Jobs?
The U.S. housing market has come back to life and is offering the most promising news in job creation. According to a report issued by the Labor Department where it said it underestimated 2012's job growth, including construction jobs, the construction sector added 157,000 jobs. The housing sector has added 300,000 jobs since January 2011 with about one-third of these jobs being added in the past three months. A stronger real estate sector typically means increased hiring as companies add carpenters, bricklayers, carpet installers, landscapers, painters and so many more. Spending on construction rebounded last year with a gain of 9.2 percent, after falling in 2011, the Commerce Department said. Spending on residential projects saw its ninth straight monthly increase in December.