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Bach: ‘It’s Too Early to Pop the Champagne Corks’ Over May Job Figures

Published Friday, June 05, 2009

The hangover in the U.S. labor market is slowly wearing off, but real estate economists say that it’s premature for any celebration. Non-farm payrolls fell 345,000 in May, much better than the consensus forecast of 525,000. Since the start of the recession in December 2007, the economy has lost more than 6 million jobs, according to the U.S. Labor Department. What can commercial real owners, developers and lenders read into the May jobs report released this morning? “It has taken massive fiscal stimulus and quantitative ...

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