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).

 

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  1. Sri says:

    Swing jobs, like swing voters. Small percentage who have outsized impact!

    Unrelated question: What are the odds of missing a flight and then loosing a mobile on the same day? It just happened to me :)

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  2. MIkeM says:

    Fascinating data, but what percentage of new construction is for housing, and what percentage is commercial, gov’t, etc.?

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  3. John says:

    the lack of relative and absolute next to those percents has me confused.

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