Construction is Growing. So Where are the Jobs?

*Eye on the Economy is an NAHB newsletter that is published every two weeks and takes a larger view of recent economic and housing policy news.

This has been a good year for home building. Home prices are showing gains and household balance sheets continue to improve. Those developments have spurred increases in home sales and home construction.

But these improving trends have not resulted in significant increases in home building employment thus far. That disconnect is likely to change in the coming year, as construction sector job openings grew dramatically in October.

Overall, the housing market recovery is growing in geographic scope. For example, the number of metropolitan areas designated as improving by the NAHB/First American Improving Markets Index leapt to 201 in December. The index measures the number of markets that have seen an improvement in three primary market indicators: single-family building permits, home prices and employment, for at least six months. The increase in the number of markets satisfying the criteria now places at least one MSA in 44 states and the District of Columbia on the list.

continued here:  http://eyeonhousing.wordpress.com/2012/12/14/eye-on-the-economy-construction-is-growing-so-where-are-the-jobs/