Despite much higher predictions, nonfarm payroll employment grew by less than 40,000 in November, according to the According to an article from National Real Estate Investor,
b The economy needs to grow at a pace faster than 2.4% to 2.5% for hiring patterns to begin bringing the unemployment rate down, emphasizes [head of research at REIS Victor] Calanog. b We haven’t seen that kind of pace of growth anytime this year, and the latest comments from Federal Reserve Chairman Ben Bernanke imply that 2011 might not be that much different. Unbuckle your seatbelts. Itb s going to be a pretty slow ride.b b
What do you think these latest employment statistics mean for the commercial real estate industry? Do you expect hiring to increase any time soon? Leave a comment to share your thoughts.
Image credit: National Real Estate Investor