Residential Construction Employment Up Nearly 5 Percent From Last Year

December 5, 2016

The nation added 178,000 non-farm jobs in November, and the unemployment rate dropped to 4.6 percent last month.

Zillow broke down the new jobs report and found that residential construction fared well too, with a 4.9 percent rise in employment year-over-year in November. Some of the bump is due to rebuilding in the South after destruction from Hurricane Matthew.

Over the past three months, the construction industry overall has added 59,000 jobs, largely in residential construction. Continued hiring in this sector could be a good sign for home buyers struggling with incredibly tight inventory, and a continued ramp up in home construction activity will only help alleviate the problem as we move past the holidays and into 2017.

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