Recent housing starts data has shown a concerning trend in the construction labor market, which is serving as a potent leading indicator for a potential recession. Key points from this data include:
– Construction labor shortage: The data indicates a lack of skilled workers in the construction industry, which is leading to delays in new housing projects.
– Economic implications: The shortage of construction labor is seen as a warning sign for a possible economic downturn, as it may indicate a slowdown in new construction activity.
– Recession risk: Experts are closely monitoring the construction labor market as a leading indicator for a potential recession, as a lack of skilled workers could lead to decreased construction activity and broader economic impacts.
As the housing starts data continues to highlight challenges in the construction labor market, industry experts are keeping a close eye on this trend as a possible signal of a looming recession. With a shortage of skilled workers impacting new housing projects, the potential economic implications of this labor issue are being closely scrutinized by analysts and policymakers alike.
You can read this full article at: https://www.housingwire.com/articles/are-housing-permits-showing-recession-risk/(subscription required)
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