Hiring in the long-depressed U.S. construction industry will get a boost from the rebuilding that will follow Superstorm Sandy. Those jobs, in turn, could raise economic growth, analysts say.
In addition, job growth in construction typically spurs hiring for other jobs, like architects, real estate agents and sellers of appliances, building materials and office equipment. The stocks of home-improvement retailers like Home Depot (up more than 3 percent) and Lowe's (up nearly 6 percent) surged last week even as overall stock prices were flat.
Equipment rental businesses are another benefactor of this increased economic activity.