Newspaper editors can retire the old “Hard Times for Hard Hats” headline.
U.S. construction employment is poised to bounce back after being flat for almost three years. Builders have the most openings and are breaking ground for more homes than at any time in four years. Architects, those walking leading economic indicators, are billing the most since December 2010.
Construction workers, who now make up the smallest slice of the labor force in six decades, should be in demand next year as work starts on all those new projects. And economists say building boosts hiring in related industries like manufacturing and transportation, giving a boost to the broader economy.
Another reason for optimism arrived this morning: Homebuilder confidence jumped to a six-year high.