Jobs Report Offers Hope for Inventory Crisis

Jobs Report Offers Hope for Inventory Crisis

The March jobs report showed an increase in employment within the construction sector, which could be a welcome sign that more inventory will soon be coming to the new-home housing market. Employment rose 215,000 in March as the unemployment rate remained at 5 percent, according to a report released Friday by the U.S. Bureau of Labor Statistics. But a closer look at the data shows that construction jobs rose by 37,000 in March. Doug Duncan, Fannie Mae’s chief economist, cites the uptick as a response to the short supply of homes for sale. Throughout the year, the construction sector has added 301,000 jobs.