Tag Archives: Construction

Minneapolis/St Paul Residential Construction Employment


I was inspired to see what kind of data was available for the Twin Cities metropolitan area for the Construction Employment from a post on Calculated Risk.

The graph below shows the number of total construction payroll jobs in the U.S., including both residential and non-residential, since 1969.

Construction employment is down 2.175 million jobs from the peak in April 2006, but up 53 thousand this year through the September BLS report.

Unfortunately this graph is a combination of both residential and non-residential construction employment…

…Usually residential investment (and residential construction) lead the economy out of recession, and non-residential construction usually lags the economy. Because this graph is a blend, it masks the usual pickup in residential construction following previous recessions. Of course residential investment didn’t lead the economy this time because of the huge overhang of existing housing units.

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I decided to take a look at our Region’s Construction Employment.  Minnesota Department of Employment and Economic Growth, MN Deed, breaks it down to Residential Construction.  The data here only goes back to 2005, but it paints a pretty good picture of our situation.

We had a peak Residential Construction Employment of 12,409 jobs in the Twin Cities metro area in July 2006, we have continually lost Residential Construction Jobs since.  We are down 58% to 5,157 Residential Construction Jobs as of August 2011.  Keep in mind, the impact goes a LOT deeper into the economy than this figure.  Think about all the auxiliary business that is created with new housing; appliances, building materials, landscaping, financing, decorating, the list goes on and on.

I am having difficulty drawing the same conclusion as CalculatedRisk based on this information. From our Region’s perspective, we are still bouncing on the bottom with no major improvement in Residential Construction employment. The key difference is that we are comparing Residential Construction Employment to their “Construction Employment”.

If we look at the similar data they are using, we can see that in the Chart below.  This is the  seasonally adjusted construction Employment for Minnesota, includes greater Minnesota. The construction employment gains do not appear to be coming from the Residential sector at this time.

Are we at the bottom?  I believe we are, but I also believe we will be “Catfishing” or “bouncing” along the bottom for a while longer.

 

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New Construction 3br,2ba Split Entry, Delano Schools, Golden Home Builders


New Construction 3br,2ba Split Entry, Delano Schools, Golden Home Builders.

I started a 2nd Blog to promote Golden Home Builders new homes in Delano, MN.  It is called www.parkviewhillsdelano.com, because we are building in Parkview Hills neighborhood in Delano.  

You can purchase a brand new 3br, 2ba home with a 3car garage for $209,800.

426 Creek Avenue Delano, MN

Delano Schools.

Other floor plans and designs to choose from.

Please check out the site to support me with web traffic.

Thanks!

Craig

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Parade of Homes at the MN State Fair


Giant slide, Minnesota State Fair, Falcon Heig...

Image via Wikipedia

It is almost Fair time.  Hard to believe how fast the summer went…   The Parade of Homes will be at the State Fair where you can pick up the Parade of Homes Fall Showcase guidebook early. 

Minnesota State Fair

 

 

 

 

 

 Come find us behind the giant slide, right next door to Dino’s.

 

The Fair is August 25th – September 5th.

The Fall Showcase, Parade of Homes begins September 10th, 2011.

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