Nonfarm payroll data is defined as this, and here is the exclusion of that data line set because it's 80% of workers: Total Nonfarm Payroll measures the number of U.S. workers in the economy, which excludes proprietors, private household employees, unpaid volunteers, farm employees, and the unincorporated self-employed. This measure accounts for approximately 80 percent of the workers who contribute to Gross Domestic Product (GDP).
Wonder how long all the jobs that are supported by real estate can keep up with the frozen market? That’s something I don’t hear many talking about? If houses aren’t selling because transactions have crashed we don’t need the amount of realtors or mortgage lenders or inspectors and so on… this will surely lead to another wave in unemployment once many are forced to pivot. Thoughts?
Near 159,000,000 people working nonfarm payroll data, which is 80% of the workforce, and only 345,000 loan officers in America, that number is probably lower today 1.6 million realtors, over 600,000 never did any business, and chunk did 1-2 transactions a year This story differs for construction workers; it is more about the new home sales market and apartments. Also, remodeling business as well. Tradtionally speaking, every recession has residential construction workers lose their jobs first
Good stuff as always! Btw, I would have asked the ladies in the elevator the same thing @logan! 😂
Does that number include The Self-employed/ independent Contractors? How many agents are leaving the RE business for regular employment!?
Nonfarm payroll data is defined as this, and here is the exclusion of that data line set because it's 80% of workers:
Total Nonfarm Payroll measures the number of U.S. workers in the economy, which excludes proprietors, private household employees, unpaid volunteers, farm employees, and the unincorporated self-employed. This measure accounts for approximately 80 percent of the workers who contribute to Gross Domestic Product (GDP).
Wonder how long all the jobs that are supported by real estate can keep up with the frozen market? That’s something I don’t hear many talking about?
If houses aren’t selling because transactions have crashed we don’t need the amount of realtors or mortgage lenders or inspectors and so on… this will surely lead to another wave in unemployment once many are forced to pivot. Thoughts?
Near 159,000,000 people working nonfarm payroll data, which is 80% of the workforce, and only 345,000 loan officers in America, that number is probably lower today
1.6 million realtors, over 600,000 never did any business, and chunk did 1-2 transactions a year
This story differs for construction workers; it is more about the new home sales market and apartments. Also, remodeling business as well. Tradtionally speaking, every recession has residential construction workers lose their jobs first