The long-lasting consequences of the housing crisis of the late 2000s continues: an analysis of the American industries losing the most jobs by percentage includes the land subdivision sector.
9. Land subdivision
• Employment change 2008-17: -49.3%
• Employment total: 40,207
• Wage growth 2008-17: +35.5%
• Avg. annual wage: $71,744
The U.S. housing market is beginning to return to normal following the Great Recession and housing market crash. Housing starts in 2017 were similar to 2007 levels, before the crash. The land subdivision industry, which divides land into parcels for housing and other purposes, suffered as a result of the market’s struggles. As of 2017, industry employment is just about half of what it was a decade before.
This was never a large sector but a drop in jobs of nearly 50% is substantial.
Since I know little about what land subdivision requires on a daily basis, I wonder if this decrease is primarily because of a slowdown in housing starts or are there other significant changes in the industry such as new efficiencies and approaches?