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March new jobs creation shows good news for the housing inventory crisis
March job numbers show that construction adds 37,000 jobs in the nation.
“New construction jobs provided a double boost to the economy in March. These jobs not only helped feed strong employment growth but also provided a lift to the housing market, where the dearth of homes for sale has stymied homebuyers for the past year. Much of the decline in new housing starts is attributable the lack of skilled construction workers, so the 12,000-worker increase in residential specialty trade contractors is welcome news in today’s report, especially when paired with the pickup in new single-family construction we saw in February,” said Redfin chief economist Nela Richardson.
“New construction jobs provided a double boost to the economy in March. These jobs not only helped feed strong employment growth but also provided a lift to the housing market, where the dearth of homes for sale has stymied homebuyers for the past year. Much of the decline in new housing starts is attributable the lack of skilled construction workers, so the 12,000-worker increase in residential specialty trade contractors is welcome news in today’s report, especially when paired with the pickup in new single-family construction we saw in February,” said Redfin chief economist Nela Richardson.
