Homebuilders could hire up to 30,000 new workers a month over the next year, according to economists at Deutsche Bank Securities.
“Leading indicators of housing activity are pointing to a
Construction employment has increased by 151,000 jobs over the past six months ending in February, according to the latest Bureau of Labor Statistics report.
Meanwhile, the number of construction jobs remains substantially below its pre-housing boom level of one million jobs. In 2005 at the height of the boom, builders and other housing-related contractors were hiring 35,000 workers per month.
Based on the National Association of Home Builders/Wells Fargo sentiment index, “we find that the construction sector could add 30,000 jobs per month over the coming year,” the new DBS report says.
The economists also note that the increase of one construction job leads to at least one or more other jobs in manufacturing and other sectors.
