Talk to most people in the industry about the state of theeconomy and business growth, and the number-one lament is about thelack of job growth. Of course, employment is the driver behindspace absorption across all sectors. Jobs fill office space.Without jobs, people can’t spend money in retail stores. Or payrent.

But in terms of employment, the multifamily sector seems to bein a good position at this stage on the cycle. Unemployment maystill be an issue in most markets across the US, but for youngadults—the prime renter cohort—more jobs are becomingavailable.

That was the recurring observation made by most folks I spokewith at last week’s RealShare Apartments 2010 Conferencein Los Angeles. When asked about job growth, many property ownersand operators shared that even in weak markets, their renters arefinding jobs. Anecdotal and factual evidence shared in bothconversations and panel sessions during the conference show thatoccupancies for traditional apartments in most metros are rising,thereby allowing for rent growth as well.