Trump 2.0: The First 100 Days | United States

Jobless Claims Initial Claims for Unemployment Insurance (Ths.)

Impact on CRE

• Job layoff announcements have been creeping higher recently, but the number of Americans filing for unemployment insurance has not increased materially, yet. • The jobless claims may be lagging for a variety of reasons, including the fact that most people do not file until their severance expires. Americans also have more savings than in most job cycles, so they may not feel as much urgency to collect unemployment. • The hiring rate has slowed relative to the past several years, and job gains are highly concentrated in a few industries. This alone will weigh on demand for CRE across a variety of uses, but is not alone a predictor of recession. Not until we see a decisive upward trend in jobless claims should we expect widespread job losses and rising unemployment rate. Jobless claims can serve as a useful leading indicator to watch for breaks in the labor market.

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Source: U.S. Department of Labor

CONTENTS

CONTENTS

Cushman & Wakefield