Article submitted by Bob Kirby, Associate Broker at Saurage Rotenberg Commercial Real Estate.
Written by Randyl Drummer | June 3, 2016The Bureau of Labor Statistics reported Friday that the U.S. economy created only 38,000 jobs in May — far below economists’ expectations of 162,000 — including a net loss of office-using jobs, bringing reactions ranging from shock to extreme disappointment from a number of analysts and commercial real estate economists.
While emphasizing that one month’s data point does not constitute a trend, and that the numbers are subject to revision, the reactions of economists and market analysts ranged from “earth-shattering” to “Holy weak growth, Batman!”
“Not a great month for office-using employment,” tweeted Andrea Cross, Americas head of office research for CBRE Group, Inc. Cross noted a net loss of 16,000 office jobs, the first monthly drop since December 2013. “We’ll see what [the BLS] revisions bring.”
Bob Kirby, a commercial leasing and sales consultant with Saurage Rotenberg Commercial Real Estate, has over 37 years of sales and management experience. Licensed in Louisiana and Mississippi, Bob is a member of the Mississippi Commercial Association of REALTORS® (MCAR); the Greater Baton Rouge Association of REALTORS®Commercial Investment Division; a candidate member of the Certified Commercial Investment Member Institute (CCIM); and an affiliate member of the National Association of REALTORS® (NAR) and NAR Commercial.
Saurage Rotenberg Commercial Real Estate is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; theBaton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).
