Construction is vast source of jobs in emerging markets
To celebrate the World Habitat Day and continue raising the voice for decent housing around the world, Habitat for Humanity launches today a new report called A Ladder Up, in which economists from prestigious U.S. universities analyze the role the construction sector plays in generating employment in 9 countries.
The main finding: The construction industry — led by homebuilding — is a large, often-overlooked source of jobs in emerging market economies
Globally, construction is estimated to employ over 250 million workers and accounts for 7.7% of all employment. Per $1 million invested in building products, an average of 97 jobs are generated in emerging markets.
“Investment in residential construction represents a potential win-win-win in emerging markets because it creates such a large number of jobs locally, helps close stubborn gaps in affordable housing and stimulates the larger economy. These findings are critically important for low- and middle-income countries deciding what areas to prioritize as they work to build back economies weakened by the COVID-19 pandemic, particularly in a world where 1.6 billion people still lack adequate shelter.” Patrick Kelley, vice president of Habitat’s Terwilliger Center
Do you want to know more about the report? We invite you to read it at this link.