Housing-related job growth is expected to accelerate this year and in 2014 as the market heats up, though employment will remain below peak levels for up to another nine years according to recent economic research. Employment growth related to residential investment will accelerate to 25,000 to 30,000 jobs per month, compared with an average gain of about 14,000 per month over the past year.Such growth is good for a wide variety of workers. Residential-investment-related employment includes contractors, remodelers, manufacturers, furniture-store employees, real-estate agents and others. Persistently low interest rates and increasing household formation are supporting demand. Indeed, construction spending is rising, as are trends for home prices and home-builder sentiment. Meanwhile, public home-building companies have seen their shares skyrocket over the past year.It's clear that the housing market is finally boosting overall U.S. economic growth. Fixed residential investment added to economic growth in 2012 for its first annual contribution since 2005. As residential-investment output continues to grow, it's expected that firms will increasingly turn to new workers. After all, paying overtime can be expensive, and current construction workers' hours are already above levels at the start of the recession.To obtain more information about buying or selling a home in the Atlanta real estate market, please contact North Atlanta Group at 404-990-3111 or www.NorthAtlantaGroup.com JEFF ANTHONY, CDPEDirectorNorth Atlanta GroupOffice: 404-990-3111Cell: 678-414-5186Fax: 770-663-5113www.NorthAtlantaGroup.comjanthony@NorthAtlantaGroup.com
