Surprise! The Jobless Rate Hits 50-Year Low

I am an early riser and arrive in the office at about 6:00am because I like the quiet time. While preparing for the day I stream CNBC’s Squawk Box for up-to-the-second business news. Depending on Trump’s tweets, the latest on Brexit, or the turmoil in Hong Kong, predictions fly on the looming recession, about which every commentator is gleefully prognosticating. And then, the Wall Street Journal runs a first page headline that the US jobless rate just hit a 50-year low!

Among the Fortune 500, most balance sheets are in great shape, the banking-system is uber-healthy, factories are taking on more orders, and we don’t have enough employees for the demand. So, what we are experiencing is the “expectation” that a recession is just around the corner because it has been a ten-year bull run.

We’ll, I beg to differ. The “great recession” almost sank the world economy, and it was not until 2014 or 2015 when the US economy finally gained solid economic traction. So, we are actually in a 4, maybe 5 year full market. But nevertheless the pundits will press ahead with their foreboding of the next recession.

Job Listings

CUSHMAN & WAKEFIELD Senior Transaction Manager (NEW YORK, NY) Manager will be responsible for day-to-day transaction management oversight for a complex and/or prominent portfolio of properties on behalf of one or more National and/or Global Corporate Services clients. Responsibilities include: market optimization planning, internal/external workflow monitoring to ensure consistent quality of service and work product, and management and/or oversight of team Transaction Managers and Transaction Coordinators.  

ACKMAN-ZIFF REAL ESTATE GROUP, LLC Chief Operating Officer (NEW YORK, NY) COO will partner with the President and senior management to establish the company’s short term and long term strategies aimed at maximizing revenue and net income while maintaining its unique corporate culture. Position will directly oversee and manage all company operations, procedures, controls for the New York headquarters as well as satellite offices located in Miami, Boston, and Los Angeles.  

AIG Global Real Estate Associate – Asset Management (SAN FRANCISCO, CA) Associate will support an Asset Management team based in San Francisco, CA and will be responsible for the management of special assets and work-outs in order to achieve AIG Global Real Estate’s goals and objectives with respect to execution of business plans and investment strategies.

MOSSER COS. VP of Portfolio Management (SAN FRANCISCO, CA) Duties include managing financial performance of assets within the portfolio, i.e., oversee unit turnover process (unit pricing, renovation scope, coordination between operations/property management and renovations teams); and perform financial assessments of, and provide recommendations and monitoring of capital projects, commercial leasing (NPV, break-even, net effective rate), sales analyses, refinancing analyses, benchmark portfolio performance, and calculating ROIs for future and existing re-positioning.  

TRUAMERICA MULTIFAMILY, LLC Asset Manager, Director (ARLINGTON, VA) Position will be responsible for the strategic implementation of all initiatives detailed within the approved business plan and asset management oversight of their portfolio of assigned properties. Responsibilities include successful execution of the stated financial, and operational goals.

HOMETOWN AMERICA Acquisitions Analyst (CHICAGO, IL) Analyst will be an integral member of Hometown’s acquisitions team responsible for providing in-depth underwriting, analysis and due diligence for U.S. transactions as well as detailed analysis for the Australia portfolio.  

STARWOOD PROPERTY TRUST Analyst/Senior Analyst (MIAMI BEACH, FL) Position will support to Surveillance primarily in the areas of CMBS deal and underlying commercial property credit analysis, relationship management with a growing list of third-party CCR entities, performing loan consent due diligence, and determining adjustments to future losses on performing loans.  

METLIFE REAL ESTATE INVESTMENTS Associate Director – Debt Strategies Group (WHIPPANY, NJ) Role will focus on managing the external subscription line and repurchase facilities. Primary duties include managing the day-to-day responsibilities of the subscription line, repurchase facilities, and identifying opportunities to add new facility/line providers and improve economic terms of the line/facilities as market conditions change.  

MINDSPACE INC Real Estate Director (NEW YORK, NY) Position will manage the acquisition of new Mindspace locations in the USA. This includes sourcing and selecting sites, performing financial evaluations, leading and closing lease negotiations and managing relations and communications with brokers, lawyers, and landlords in various countries.  

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