Coping with a Real Estate Bust
is the title of a Time Magazine article which contained this little tidbit:
To a remarkable extent, housing drove the entire economy. Real estate, residential construction and three other housing-related Labor Department job categories together add up to 6.6% of U.S. employment. But they accounted for 46% of the new jobs created in the U.S. between January 2001 and May 2006, when the sector peaked.
So that is just about half of the 8,000,000 jobs created in that time. I hope they have saved at least 6 months expenses.