A study on the impact of China's real estate economy on regional employment development

This paper employs a simple linear regression model, based on provincial panel data from the National Bureau of Statistics of China spanning 2008 to 2024, to explore the impact of the real estate economy on regional employment development, and conducts a robustness check using the added value of the real estate sector, followed by a heterogeneity analysis from the perspectives of time, region, and industry. The study arrives at the following findings: 1. The real estate economy is positively correlated with regional employment. 2. Prior to 2018, when real estate regulatory policies were unprecedentedly stringent, the real estate sector exerted a stronger driving force on employment development. 3. The real estate economy drives employment development in the eastern, central, and western regions, with the strongest effect observed in the east and the weakest in the central and western regions. Conversely, it acts as a hindrance to employment in the northeastern region. 4. Regarding industrial sectors, the promotion effect is most significant in the services sector, followed by the industrial sector, whereas it exerts a negative and obstructive impact on the agricultural sector.