Thanks for that piece of Info.

Reader comment on: Rajan on the Jobs Numbers

Submitted by Lyle (United States), Jan 7, 2011 22:43

The 6.5% number makes sense and explains the slow recovery of jobs. Housing and allied industries will be slow slow slow to recover since there is such a surplus of housing. (Albeit not necessarily in the right places). But saying 3% of the unemployment rate is housing explains a lot. This also explains the downturn in illegals in the U.S., a lot of them worked in construction. Now if we ever apply lessons learned in other manufacturing to housing the number will never get as high again. (Cut lumber at a factory, trusses. wall segments etc).

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