WASHINGTON, DC-The Labor Department’s figures for employment in December were more than welcomed by the commercial real estate community Friday morning. Of the 200,000 jobs added to the economy for the month, a significant number were in the office, retail—and most significant of all—industrial sectors.

“The clear winner in the December report was the industrial sector,” Cassidy Turley chief economist Kevin Thorpe tells GlobeSt.com. “It added 50,000 jobs for the month, which is huge.” In fact, he says, industrial created more jobs in December than in the previous 11 months combined, assuming there are no revisions to the numbers.

Office-using employment grew by 20,000 jobs in December, which translates into 10 million to 15 million square feet of new office space. Also, the retail sector added 27,900 jobs for the month. That, plus the 38,800 jobs added in retail in November, can largely be attributed to seasonal hiring.

Another positive development in December was the drop in the unemployment rate, to 8.5%. Or to put it more precisely—the reason for the drop in the unemployment rate was another positive development in the report, Thorpe says. “Last month the unemployment rate dropped due to people leaving the workforce,” he says. “This month it was primarily due to the significant job creation number.”

In November, 120,000 people stopped looking for work. In December, that number was 50,000. “What you want to see is that number be positive,” Thorpe says. “But at least it is moving in the right direction.”

Headwinds remain, it hardly needs to be said. This includes what is happening in Europe and the impact it will have on economic growth in the US. Indeed, the Labor Department report reflected the ongoing strain. Temporary employment fell by 8,000 in December, which is not a positive sign, Thorpe says.

“It would be a mistake to conclude from one report that all is fine now, but it is clear that the economy recovery is gaining momentum,” Thorpe concludes.

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