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The Dow broke through the elusive 11,000 threshold yesterday, after flirting with the new high for weeks. This is an especially important breakthrough because it will reinforce confidence that continues to build with recovering corporate earnings, an economy seemingly on the mend, and the return of the consumer–the ultimate turnaround necessary to drive a long-term recovery. We are also seeing activity on the recruiting front. Search activity is starting to happen across the board, with the exception of development, which is going to take years to rebound–except for build-to-suit activity. Real estate investors, wannabe funds, operators, and corporate users are all back in the hunt for talent, albeit at more senior levels. Rank-and-file hiring is still a ways off, but if the job boards are any indicator, even mid-level hiring is on the mend. SelectLeaders had one of its biggest months for new postings in a long time in March. I know that some of the readers of this column have been frustrated that I have not reported more positive news. Listen, I just tell it like it is, and I definitely see the start of recovery happening. So there!

Tony LoPinto is a senior client partner and head of Korn//Ferry International’s Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.
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