WASHINGTON, DC-First the good news: the economy added 103,000jobs in September and the unemployment rate didn’t rise. Now thebad news: the economy only added 103,000 jobs in September and theunemployment rate didn’t drop from its 9.1% high.

So goes it with this stop-and-start recovery. The news is betterthan the worst pessimists had feared--low numbers as prelude to adouble dip recession--but it is not enough to really jump start therecovery, Cassidy Turley’s economist KevinThorpe tells GlobeSt.com. “The jobs report doesn’t scream‘everything is perfectly fine!’ but it does help us push away fromrecessionary scenarios and back to slow growth scenarios,” he said.That said, 103,000 is a weak number. “The best thing you can sayabout it is that it could have been worse,” Thorpe says.

For the commercial real estate market, a deeper look at thefigures holds some good news and a little bit of a disappointmentfor industrial.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.