Note: This article was published by the Central Penn Business Journal. Click here to read the original version.
Earlier this summer, it was reported that the number of Americans filing for unemployment benefits rose less than expected. Dropping unemployment numbers indicate a strong labor market.
Many people may assume that it’s the economy that drives commercial real estate activity, but really it’s jobs. The two are closely correlated, but for several compelling reasons jobs have the greater impact and drive businesses to either expand or contract their commercial space.