A solid labor market could lift the commercial real estate market as 2024 comes to an end. Hiring reached a six-month high in November as job creation rebounded from disruptions related to weather and labor relations in October, according to a report from Institutional Property Advisors.
The economy added 227,000 new jobs in November, on its way to an expected year-end total of more than two million new employment opportunities, the report said. Although this figure beat expectations, the unemployment rate ticked up 10 basis points to 4.2%.
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