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Weekly Insights
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May 05, 2008
Monthly Job Change
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The labor market shed a net of 20,000 payroll jobs in April and has lost 260,000 so far this year. The year-to-date decline of 0.2% is by far the lowest four-month decline at the outset of the past six recessions. Strong exports, low corporate debt levels and cautious hiring in recent years have kept mass layoffs at manageable levels. Although the economic downturn so far has been shallow, the recovery, when it comes, may be equally shallow. Expect the commercial real estate leasing markets to muddle through the year with rising vacancy rates and softening rental rents.
Source: U.S. Bureau of Labor Statistics
Robert Bach, Senior Vice President, Chief Economist, has 30 years of professional experience in real estate market research, consulting and city planning. His commentary on the real estate markets is provided here on a weekly basis.
Need more information? Contact:
Robert Bach
Senior Vice President, Chief Economist
312.698.6754
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