April's Jobs Report Bodes Well for CRE

NEW YORK CITY—Winter may be over in more ways than one, in the view of Cushman & Wakefield‘s Ken McCarthy. Given April’s strong national jobs report from the US Bureau of Labor Statistics, it appears that “the underlying strength of the economy is finally starting to emerge,” McCarthy writes in a report issued this past Friday.

“For the first three months of 2014, we had been expecting the economy to shift into a higher gear led by a surge in hiring as businesses begin to take more risk to generate top-line growth,” writes McCarthy, C&W’s senior managing director, economic analysis and forecasting. That shift evidently is taking place: April’s tally added 288,000 jobs to the domestic economy, bringing unemployment down from 6.7% to 6.3% in the largest single-month decline in the jobless rate since 1949.