NEW YORK CITY-Although it’s still “a very muted recovery,” in the words of Nigel Gault, chief US economist at IHS Global Insight, the Job Barometer team at Cornell University’s Program in Real Estate finds much to cheer in recent employment news. The Bureau of Labor Statistics said non-farm payroll increased by 192,000 in February, and that private sector jobs increased by 217,000, according to ADP. That has positive implications for hiring in commercial real estate.
SelectLeaders/Cornell Job Barometer research says jobs posted on major commercial real estate job boards in the last week of February represent the most activity since November of 2008, following the onset of the capital markets crisis. “Although we are still 50% of where we were heading into ‘08, when we hovered around 1,000 job opportunities available on the site, we are witnessing a slow recovery, one sector at a time, that feels steady and solid,” says Susan Phillips-LoPinto, CEO of SelectLeaders Real Estate Job Network.
The complete report can be found on GlobeSt.com’s Career Center by clicking here.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
