Construction Employment: Light at the End of the Tunnel

Only it may be a very long tunnel.  But over at Calculated Risk Bill McBride argues that things are looking up in the battered and bruised construction sector.  So far, 2011 has seen an increase in total construction jobs for the first time since 2006.

After five consecutive years of job losses for residential construction (and four years for total construction), this is a baby step in the right direction. However there will not be a strong increase in residential construction until the excess supply of housing is absorbed.

In addition residential investment has made a positive contribution to GDP so far this year for the first time since 2005. A small contribution – but a positive one.

We’ll take good news, however small,  wherever we can find it these days.  You can read the full post (with tables and charts) here.

 

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