According to preliminary June employment numbers released July 20 by the Bureau of Labor Statistics, June was not a terrific month for job growth, especially with the unemployment rate holding steady at 8.2%. Monthly nonfarm jobs increased by only 80,000 jobs, leading to an average employment growth of 75,000 per month during Q2 2012 – a far cry from Q1 2012's monthly average job growth of 226,000.
Local AXIOMetrics Inc. senior real estate economist K.C., Sanjay blames sluggish job growth on one thing: Macro conditions. "The things we're seeing point to consumer and business sentiments," he comments. "The European Union played a bit of a role; the gridlock in Congress played a role." Despite the fact that corporations are enjoying some pretty good profits, "they don't want to put a bunch of cash into investments or employment because of taxes and a lack of a clear vision about where regulation will go," Sanjay tells GlobeSt.com.
Read more...GlobeSt.com - Job Growth Anemic, though Multifamily Properties In Demand - Daily News Article