Employment grew by a net 80,000 jobs in October, which is consistent with the moderate GDP performance, said Marcus & Millichap’s research services managing director Hassam Nadji. The private-sector added 104,000 jobs last month, primarily in business and professional services, healthcare, leisure and hospitality. By contrast, state and local governments shed 24,000 jobs. The unemployment rate edged down, but has made little progress recently, fluctuating within a narrow band since earlier this year. A durable recovery in the retail sector relies not only on sustainable sales, but also strong wage growth which should improve in the next six months as seasonal hiring picks up. For the full report, CLICK HERE.Marcus & Millichap: Hiring Positive, But Recovery Frail
Employment grew by a net 80,000 jobs in October, which is consistent with the moderate GDP performance, said Marcus & Millichap’s research services managing director Hassam Nadji. The private-sector added 104,000 jobs last month, primarily in business and professional services, healthcare, leisure and hospitality. By contrast, state and local governments shed 24,000 jobs. The unemployment rate edged down, but has made little progress recently, fluctuating within a narrow band since earlier this year. A durable recovery in the retail sector relies not only on sustainable sales, but also strong wage growth which should improve in the next six months as seasonal hiring picks up. For the full report, CLICK HERE.
