NEWS

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Palomar Press Briefing | March 9, 2022



 INDUSTRY NEWS

March 9, 2022

 

2022 EMPLOYMENT PICTURE

The total number of employed people from January 2021 to January 2022 increased by 4.9 percent (7,235,000 people), while the total number of unemployed people decreased by 33.6 percent (3,642,000 people). Year-over-year, the largest difference for employment was in the Installation, Maintenance and Repair occupations with an increase of 8.5 percent.

REITS FALL 3.1% IN FEBRUARY

U.S. REITs fell for the second consecutive month, declining 3.1 percent in February amid geopolitical tensions and concerns about rising interest rates. The S&P 500 Index fell 3.0 percent in February, and the Nasdaq Composite Index declined 3.4 percent. The best-performing property types in February were office, rising 3.7 percent.

SIZE MATTERS: HOW WALMART AND TARGET DOMINATED AMID DISRUPTION, INFLATION

For many companies, an unexpected bill for $400 million would be a crucible, if not the beginning of a tailspin. For Walmart, the world’s largest company by revenue, it was a mere speed bump. That figure, $400 million, was what the company spent on supply chain costs above management’s original estimates for the fourth quarter.

REIT EARNINGS ROSE 24.6% IN 2021

REIT earnings, as measured by funds from operations (FFO), rose 24.6% in the full year 2021 as the recovery from the early stages of the pandemic gained momentum, according to the Nareit T-Tracker. On a quarterly basis, RRO overall was down slightly in the fourth quarter, declining 3.0% from the prior quarter.

U.S. JOBS INCREASE BY 678,000 IN FEBRUARY

The U.S. economy added 678,000 jobs in February – beating expectations – and the unemployment rate decreased to 3.8 percent, according to the Bureau of Labor Statistics. In addition, the job gains in December and January were revised upward to 588,000 and 481,000, respectively.

YELP REPORTS POST-COVID COMEBACK IN US BUSINESS OPENINGS, BUT NOT IN MAJOR CITIES

After COVID-19 initially battered mom-and-pop businesses in 2020, openings of new businesses rebounded in the second year of the pandemic to near pre-virus levels- just not in big cities like New York and Los Angeles.

 

 

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