Figure 4. Effects of housing starts on observed labor productivity in single-family and multifamily new housing construction, 1987–2016 (base year 1987 = 100)
Year Single-family new housing construction Multifamily new housing construction

1987

18.47 6.55

1988

18.03 6.25

1989

17.48 6.09

1990

16.67 5.68

1991

16.25 4.82

1992

17.67 4.79

1993

18.34 4.72

1994

18.82 5.44

1995

18.00 5.56

1996

18.57 5.79

1997

18.39 5.92

1998

19.28 5.95

1999

19.48 5.91

2000

19.03 5.91

2001

19.29 5.86

2002

19.82 5.95

2003

20.64 5.96

2004

21.27 5.94

2005

21.83 5.98

2006

20.45 5.89

2007

17.79 5.75

2008

14.34 5.60

2009

12.49 4.18

2010

12.79 4.26

2011

12.32 4.86

2012

13.48 5.36

2013

14.30 5.74

2014

14.59 6.00

2015

15.19 6.20

2016

15.76 6.18

Notes: The annual impact of housing starts (hs) is calculated as exp(0.414 · log(hs)) in single-family housing and as exp(0.305 · log(hs)) in multifamily housing. Recession periods are July 1990 to March 1991, March 2001 to November 2001, and December 2007 to June 2009, as determined by the National Bureau of Economic Research.

Source: U.S. Bureau of Labor Statistics.