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December 2013 Economic News







9.0%
Construction unemployment fell to 9 percent in October with the addition of 11,000 new jobs, the fifth consecutive month of gains. However, the number of unemployed construction workers has declined by 712,000 over the past three years while firms have added just 323,000 new jobs, indicating a significant decline in the labor force.

54
Builder confidence in the new single-family housing market was unchanged from a downwardly revised October level of 54 in November on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), marking the sixth consecutive month that more builders have viewed market conditions as more good than poor.






National Homeownership Remains at 18-Year Low
The national homeownership rate, seasonally adjusted, was 65.1 percent in the third quarter, unchanged from the second quarter and perpetuating the lowest rate since the last three months of 1995, according to Census Bureau data. Homeownership fell from a 65.3 percent rate in the third quarter of last year. The rate peaked during the housing boom at 69.4 percent, seasonally adjusted, in the second quarter of 2004, and has been declining steadily since mid-2006.








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