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September 19, 2014

Builders Ramp Up Hiring From Rising Demand

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Builders Ramp Up Hiring From Rising Demand

Growing confidence among home builders about the housing recovery is prompting more of them to go on a hiring frenzy to meet increasing buyer demand. Government data shows that 48,000 construction jobs were added last month, the highest number since March 2007. 

Across all industries, about 8.8 million total jobs were lost between January 2008 and February 2010 — and more than one in every five of those jobs was lost in construction. About 30 percent of all construction jobs were lost in the four-year period from January 2007 to January 2011. 

But home builders' rising sales that are giving them more confidence in the housing recovery. In January, new-home sales jumped to their highest level in two decades, according to government data.

Much of the construction job growth is occurring in once-hard-hit housing markets that are now turning around, such as Phoenix, but also in “new boom towns” that are growing due to domestic oil production, like in Williston, N.D., Reuters reports. 

Source: “U.S. builders hiring at rapid pace,” Reuters (March 8, 2013)

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