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December 2010

The U.S. housing bubble and bust: impacts on employment

Kathryn J. Byun

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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