The Bureau of Labor Statistics Has Good News for Real Estate Professionals
April 1, 2016 |
The U.S. Bureau of Labor Statistics released its jobs report today. The report shows that total nonfarm payroll employment rose by 215,000 in March. The unemployment rate is little changed at 5.0 percent.
According to the job report, employment increased in retail trade, construction and health care, while there were job losses reported in the manufacturing and mining industries. The real estate industry’s employment has rate also increased since last year.
Digging deeper into today’s jobs report, we found that employment in manufacturing has declined by 29,000 since last year. A majority of the job losses in manufacturing were from durable goods industries (-24,000), primary metals (-3,000) and semiconductors and electronic components (-3,000).
Also worth noting is that the construction employment rose by 37,000 in March and has added 301,000 jobs throughout the year. Specifically, job gains occurred among residential specialty trade contractors (+12,000) and in heavy and civil engineering construction (+11,000).
What does all this mean for our real estate alumni and current students? More opportunities to excel in real estate.
Hondros College has had many successful alumni who have once worked in factories and manufacturing job. Because of their education with us, they no longer have to worry about being jobless. They don’t have to be stressed when reading the Bureau Labor of Statistics’ reports, because they’ve secured their real estate future with us. Their future is not up to anyone but themselves. They’re able to take control of their financial future and immediately jump back into a stable and flexible career in real estate.
Other opportunities have risen from the statistics shown for the construction industry. With a national inventory shortage, one solution would be to increase residential construction which will build more homes to sell!
Another important takeaway from today’s job report is that the real estate industry is steadily growing, which makes this spring an important one for agents. When the economy is strong and stable, consumer confidence is high and people are more likely to buy homes. This is great news for real estate professionals considering April 1st unofficially kicks off the peak selling season!