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Home Construction is Up: What This Means

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home construction increasesWith the housing rebound of 2012, which has seen construction increase 0.6 percent in July, bringing it up to the highest its been since June 2009, this could be a time for job seekers to consider getting into the market of construction. Residential construction has been up 17.2 percent, with nonresidential construction up 2 percent. Government funded construction is down 3.7 percent, perhaps in part due to sequestration, or the limiting of government spending after the fiscal cliff.

The increase in the housing market suggests that things might be a little closer to normal, a little closer to fine, after the 2008 recession, and indeed we’ve seen an overall economy annual rate growth of 2.5 percent between April and June, which is better than the mere 1.1 percent growth we saw the first three months of the year.

Overall then, increased construction is a boon for all job seekers, not just those looking to work construction, as it suggests the wheels of the economy are turning, the oil of money is spreading around, and the creaking machine will soon be back in working order – hopefully – without too many hiccups and tumbles along the way. There is, of course, the danger of over construction, and housing projects are what got us in this mess to begin with, but overall, the increased construction is good news for job seekers.

Home Construction is Up: What This Means by
Authored by: Andrew Ostler

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