When Friday’s job market report was released, there was a clear bright spot in one particular sector: housing construction.
According to the Labor Department’s monthly findings, overall employment in construction – which includes residential, non-residential and civil projects – rose by 45,000 in April for the biggest advance since January 2006.
“The housing numbers in this report are checking off all the boxes,” Neil Dutta, head of U.S. economics at Renaissance Macro Research LLC in New York, told Bloomberg Business. “None of these things would be happening if the housing market weren’t picking up.”
Image via flickr/Oregon Husky
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