Report by Barbara Byrne Denham
The U.S. economy added 201,000 jobs in August following a downwardly revised gain of 147,000 jobs in July. August’s gain was above most forecasts as few expected a gain over 200,000 this late in the cycle, but there is clearly momentum in the economy. Gains were spread across most industries with the highest found in professional business services (53,000 jobs), health care (33,000 jobs) and construction (23,000 jobs). These industries have contributed the lion share of the gains all year. Since August of 2017, the U.S. has added 2.3 million jobs with 48% coming from these three sectors.
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Barbara Byrne Denham is a Senior Economist in the research and economics department at Reis, the team responsible for the firm’s market forecasting, valuation, and portfolio analytics services. Throughout her 20-year career, Barbara has written a number of white papers on the commercial real estate market.