The U.S. housing bubble and bust: impacts on employment, Kathryn J. Byun, an economist in the Division of Industry Employment Projections, Office of Occupational Statistics and Employment Projections, Bureau of Labor Statistics "Employment Projections Program data are used to estimate employment impacts due to the recent housing market cycle, and alternative “nonbubble” demand scenarios indicate that at the peak of the bubble, in 2005, approximately 1.2 million to 1.7 million residential-construction-related jobs were attributable to “bubble-related demand."
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