The official employment numbers for May showed an additional created 390,000 jobs, according to the Bureau of Labor Statistics. That's 19% higher than the 328,000 expected by economists the Wall Street Journal had polled in advance. Unemployment stayed at 3.6% for the third month in a row, a figure that Jeffrey Roach, chief economist for LPL Financial, called "stubbornly low" in an emailed statement.

Areas of notable job gains, which could be positive news for some parts of commercial real estate, were in leisure and hospitality, professional and business services, and transportation and warehousing.

Leisure and hospitality employment growth, up by 84,000 over April, was mostly explained by job increases in food services and drinking places (46,000) and accommodation (21,000), which would affect restaurant and bar trade as well as hotels. However, this is still a sector in recovery. Leisure and hospitality employment continues to be off by 1.3 million, or 7.9 percent, from February 2020.