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The most recent US Department of Labor unemployment statistics was good news, sort of. The unemployment rate has fallen to 7.4%, but the bad news is that wages are down, and much of the improvement was in part time jobs. However, the stats also do not count the 6.6 million who say that they want a job but are not counted because they are not actively looking. I am not equipped to translate these statistics to the real estate industry, however I am comfortable observing that real estate, unlike other industries, is beefing-up the mid-level professional ranks as markets recover. Also, real estate recruiting activities are focused across all sectors and functions so stay tuned, real estate is likely to buck the trend and continue a better than average hiring trend. God bless our industry.

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