It took a bit of time, but it looks like our industry is finally starting to hit its stride as it recovers from the recession. While both statistics saw a few ups and downs this year, the latest reports on housing starts and employment available before the end of this year show strong improvements over last. The construction industry added 17,000 workers in November to reach total employment of 5.851 million Americans–a four-year high. Meanwhile, unemployment has fallen to 8.6 percent.
And housing starts absolutely rocketed upward in November to a seasonally adjusted annual rate of 1.091 million. That was a monthly increase of 22.7 percent and a year-over year increase of 20 percent. It’s the the highest annual rate in home starts the country has seen since February 2008.