The Effect of Job Increase in the Current Housing Market
According to the report by the Bureau of Labor Statistics,employers added 850,000 jobs in June, amid the declining COVID-19 cases and a reopening economy.
Approximately 70% of the jobs have been recouped since the pandemic started. Which means that the economy is on the move.
As the demand exceeds the housing market supply, more jobs for residential construction is a positive indicator, as this means new constructions will be made, as a solution to the high housing demand.
“More hammers, more homes” said Odetta Kushi, deputy chief economist at First American.
Residential building employment rose nearly 0.3% in June.