Industry News

Housing generates 935,000 jobs in California

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The home-building industry and other housing-related industries contributes an estimated $218 billion per year to the California economy, generates 935,000 jobs and accounts for about 10 percent of all economic activity in the state, according to a 2004 report by the Sacramento Regional Research Institute. The research institute is a joint venture of the Sacramento Area Commerce and Trade Organization and California State University, Sacramento. The report was prepared for the California Building Industry Association. This second annual report found that the wholesale and retail trade industry has grown larger than the housing industry. Wholesale and retail trade contributes about 2.7 million jobs and about $221 billion in total output to the state. Last year, the study found that the housing industry was the state's largest industry, and was responsible for $257 billion in output, or 13 percent of the state's total output. New housing construction contributes an estimated $59 billio...