Research Brief: Employment – June 2020
Labor market rebounds as restrictions begin to ease. Employers
added 2.5 million jobs in May to bring the unemployment rate
down to 13.3 percent, indicating the worst of the economic fallout
may be behind us. Economic shutdowns resulted in job losses
of 22.1 million in March and April, pushing the unemployment
rate to 14.7 percent, the highest since 1948. While the employment
gains are very encouraging, uncertainties and a long road to
recovery for America’s labor market remain, broadly impacting
commercial real estate over the coming months.