Posted by: BayAreaComRE | March 7, 2010

C&W Research February 2010 Employment Report: Improvement Continues

From our U.S Research Department desk, we’ve posted an update on the national employment situation. As you know, commercial (office) real estate is directly predicated on employment figures; the more people employed, the more people in offices, the healthier the U.S commercial real estate market (to put it simply).

“US payrolls continued to decline in February, but at a much slower pace. The US lost a total of 36,000 jobs in February, compared with 26,000 in January and 109,000 in December (the December decline was estimated at 150,000 last month, so it is now substantially smaller than originally reported). Over the past four months the US has lost an average of 27,000 jobs per month, roughly one tenth of the job loss experienced in the preceding four months.”

We spoke a little about the importance of employment as it relates to real estate in our introduction to the Bay Area COM RE Index. Hopefully, the stabilizing of job losses is a bellwether to the improving health of our economy. For the full report from our research group, see below.

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