Jobs Report Shows Reliance On RE
The Bureau of Labor Statistics has the April report out. The non-farm payrolls for the month had a net gain of 274,000 jobs. "construction employment rose by 47,000 in April, with specialty trade contractors accounting for the bulk of the growth (40,000). Since its most recent low in March 2003, construction industry employment has grown by 551,000."
The NM News tells us that the number of mortgage employees hit a new high. "A record half a million workers are now employed in the mortgage banking and brokerage sectors, according to preliminary government figures released May 6."
This post includes these gains in the realtor sales force. "The National Association of Realtors says its membership has swelled to 1.1 million now from 766,560 in 2000, a rise of 46 percent. In Manhattan the number of brokers and sales agents has jumped 42 percent, to 26,220, in the same period."
The US has 150,000 young people reach employment age each month.