Buy a home, create a job

June 6, 2013 at 8:03 AM
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CHICAGO, June 6 (UPI) -- The housing market recovery has done more than add wealth to U.S. homeowners, it has also added jobs, online employment firm CareerBuilder said Thursday.

The construction sector, hard hit by the recession, has added more than 187,000 jobs since 2011, a 2 percent increase, CareerBuilder said.

There are now 7,794,077 people employed in construction jobs, the firm said.

But there are also many jobs related to homes that have produced "a steady stream of new jobs," the company said.

Aside from construction, 59,000 additional housing supply chain jobs have been created since 2011, a 3 percent increase to 1,755,863.

In the banking sector, 19,317 new in mortgage and non-mortgage loan broker jobs have been created, a 30 percent increase that brings the category to 84,759, CareerBuilder said.

In addition, 23,849 new jobs have been created at home centers and home furnishing stores -- 3 percent growth to 823,496 jobs -- and 11,305 new building material dealer jobs have been created -- a 4 percent gain to a total of 317,987 people currently employed.

Since 2011, there have been 4,062 jobs created in hardware, paint and wallpaper stores and 1,828 new jobs in upholstered-furniture manufacturing.

The figures prove a fundamental economic premise, that the housing market is a cornerstone of the economy. Home equity is considered wealth that allows homeowners to stretch their purchasing power with new loans and new home buyers are also likely to purchase lawn mowers, curtains, household appliances, and a variety of other items, decorative and functional.

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