Latest / Nareit's REIT Report Podcast
June Employment Numbers Show Commercial Real Estate Heading in Right Direction
Nareit Senior Economist Calvin Schnure said the June employment numbers released last week were a “welcome positive surprise” that shows commercial real estate is heading in the right direction.
Speaking July 6 on the REIT Report podcast, Schnure said the 4.8 million jobs reported for June exceeded expectations by a wide margin. The unemployment rate, meanwhile, fell more than anticipated, to 11.1%. While that is still a very high number, Schnure said, “this is a good down payment on the recovery that we’re going to need.”
Hiring last month was concentrated in the sectors that had the biggest…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.