Astounding Fact of the Day

More evidence of the relationship between the housing market and the overall economy:

Construction makes up less than 5 percent of employment but accounts for more than 40 percent of the large swings in the job-filling rate during and after the Great Recession.

That’s from “Recruiting Intensity During and After the Great Recession,” by Steven J. Davis, R. Jason Faberman, and John C. Haltiwanger (abstract; PDF).