What To Expect Following The Release of New Labor Data

Near Term Hurdles

• The Fed’s commitment to slowing inflation is beginning to weigh on the economy
• The Fed is expected to raise the overnight rate by another 75-basis points at the November 2nd Fed meeting

Effect on the Economy

• Unemployment remains low at 3.7%, but reduced job openings suggests labor market loosening
• Other indicators like the ISM manufacturing index are still in positive territory, but are beginning to weaken

Impact on CRE

• Rising uncertainty may weigh on investor sentiment
• Investors must consider longer-term horizons when crafting there CRE strategies moving forward

*Through August
Sources: Marcus & Millichap Research Services, BLS

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