Presentation Slides: Will this be the longest real estate boom ever?
Richard Barkham, EA’s Chairman and CBRE Global Chief Economist, recently addressed the National Association for Business Economists regarding the economic cycle and its current implications for commercial real estate. As EA has consistently been at the frontier of thought leadership for commercial real estate, we thought we would share his slides and his thoughts to the broader community.
March Jobs Report: Employment Growth Slows; Wage Growth Rises
Monthly job growth has averaged a relatively strong 202,000 for the past three months, but remains volatile, as do revisions. Average hourly earnings rose slightly in March. Wages have risen by 2.7% this year. In these results, there is no reason to think the Fed might change course in its normalization of monetary policy. Markets have already priced in two additional rate increases this year. The Fed could consider a third increase if wage growth remains above 2.5%, given uneven productivity growth.