Housing Industry Collapse Forces Many to Move On

Summary

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FORT LAUDERDALE, Fla. -- In 2007, the construction industry employed millions of people nationwide.

Three years later, the industry has been decimated by the recession. According to the Bureau of Labor Statistics, more than one-quarter of construction jobs have disappeared since January 2007. Throw in the jobs lost in related fields such as real estate, architecture, mortgage lending, landscape design and appraisals, and there's no doubt which employment sector is hurting the most.

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Housing Industry Collapse Forces Many to Move On

"It has been a long and deep recession, and construction has been hit disproportionately," said Sean Snaith, economist for the University of Central Florida. "Don't expect that it's going to turn it around any time soon. T...

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