On a Metro Level, Employment Recovery Remains Uneven via Property Management Insider

Taking a step back from the multifamily market, let’s take a look at what nearly all tenants need to occupy an apartment unit – a job. The good news is the U.S. economy has experienced monthly growth in nonfarm payrolls for 48 consecutive months. For the purpose of this piece, MPF Research looked at the current employment levels among the core 100 U.S. metros relative to their pre-recession levels to get a sense for the underlying strength of the economic recovery. Five years after the recession officially ended, most metros have returned to pre-recession employment levels. In that vein, the improvement in the labor market can be best described as slow and steady. The chart below illustrates the prolonged recovery, but more importantly depicts the consistent upward trend in the number of metros moving above pre-recession employment levels.

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