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Palomar Press Briefing | February 9, 2022

 



 INDUSTRY NEWS

February 9, 2022

 

COMMERCIAL REAL ESTATE SHOWS ACROSS-THE-BOARD IMPROVEMENT IN 2021: Q4

Conditions in commercial real estate markets improved across the board in the fourth quarter of 2021. Robust demand from tenants contributed to declining vacancy rates across most property types and faster rent growth.

NRF: ECONOMIC GROWTH LIKELY TO CONTINUE EVEN AS FED MOVES TO SLOW INFLATION

There is plenty of room to raise interest rates without threatening the U.S. economy. That’s the view of National Retail Federation chief economist Jack Kleinhenz, who said that the United States appears to be at the midpoint of an economic cycle that should continue to see growth.

HERE’S WHERE THE JOBS ARE – IN ONE CHART

Despite a spike in omicron Covid-19 cases, U.S. employers managed to add over 450,000 jobs last month thanks to robust hiring at restaurants and bars, retailers and mail and parcel delivery workers. The leisure and hospitality sector, which the Covid-19 pandemic has hit especially hard, added more than 150,000 jobs in the first month of 2022.

U.S ECONOMY ADDED 467,000 JOBS IN JANUARY, MUCH HIGHER THAN EXPECTED

Total nonfarm payroll employment rose by 467,000 jobs in January, while the unemployment rate changed little from 3.9 percent in December to 4 percent last month. The latest job figures released Friday morning by BLS were significantly higher than Dow Jones’ estimate of nonfarm payroll employment of 150,000.

DISCOUNTERS LEAD PLANNED RETAIL OPENINGS IN 2022

US retailers are on track to open 30 million square feet this year in the wake of 1,910 announced store openings so far this year. As of January 28, according to Coresight Research, there were 742 announced store closures, which translates into an estimated 17.4 million square feet of closed retail space.

WHICH FOOD RETAILERS LANDED ON WORLD’S MOST ADMIRED COMPANIES LIST?

Fortune has published its annual list of the World’s Most Admired Companies. The corporate reputation list is based on ratings calculated from thousands of businesspeople within various industries. Survey respondents are asked to rate companies in their own industry on nine criteria.

HOME PRICES SOARING IN MOST POPULAR MIGRATION DESTINATIONS

Home prices are becoming a bit pricey for locals or those who relocated to the country’s top migration destinations. Phoenix was the most popular destination of 2021, followed by Dallas and Orlando, according to a new report from real estate brokerage Redfin.

 

 

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