X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

White-collar employment growth through the first six months of 2005 can be described as disappointing and volatile at best. While January and March job gains were unimpressive, both under 124,000, February posted a high of 300,000 job gains. While April exceeded expectations, posting employment increases of 274,000, disappointment set it again in May but increased again in June to 166,000. Despite this volatility, the unemployment rate stands currently at 5%, the lowest rate recorded since September 2001.

While job growth during the first quarter fell short of expectations, the commercial real estate market still benefited from the limited growth. First-quarter leasing activity pushed 2005 into high gear, setting lofty expectations for the quarter to follow. Overall leasing activity totaled 57.9 million sf through March, 3.3 million sf more than the previous year. In CBDs alone, leasing activity increased to 25.6 million sf from 19 million feet the year prior. While these gains were promising, the threat of job loss remained.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.