Report by Barbara Byrne Denham
The U.S. economy added 134,000 jobs in September, the lowest one-month gain since September 2017. However, the growth in August was revised from 201,000 to 270,000 jobs, which nets to a two-month average growth of 202,000 jobs. Professional business services added the most jobs (54,000 jobs), followed by transportation and utilities (23,800 jobs) and construction (23,000 jobs). The retail sector lost 20,000 jobs in September while the restaurant industry lost 18,200 jobs. Both industries had added jobs in August. Since September of 2017, the U.S. has added 2.54 million jobs including 560,000 jobs in professional business services and 453,000 in education and health services.
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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.