Cassidy Turley research guru Robert Sammons on private-sector job gains and the Manhattan office market:
What double-dip recession? What jobless recovery? There has been so much doom-and-gloom economic rhetoric circling the globe lately that the new jobs numbers just released by the City Comptroller’s Office appear, on the surface, to be totally contradictory. Read More
The summer our discontent behind us, the weight of inaction threatens anew. It is readily apparent from the most recent data that economic growth and labor market trends slowed markedly during July and August. Yet precious little has been accomplished over this same period to seriously assess or offset the deficiencies in the recovery.
Absent politicians in Washington calming down, or new private or public sources of stimulus, the near- and medium-term outlook for the economy remains clouded. Would that policymakers could approach the growth and employment conundrum with the same zeal—and occasional ferocity—as they approached the budget debates over the past few months, we might be in a stronger position two years after the recession reached its putative end. Read More
Last Friday’s employment report underscores that the national economic and labor market recoveries remain unusually fragile even two years after the recession’s formal end. Too many investors and lenders underestimate the drags on value if interest rates should rise ahead of cash flow. Read More
There is good economic news to report: The unemployment rate in New York City has dropped to 8.6 percent. That's a two-year low. And the good news on jobs comes despite a continued lull in construction, a traditional source of well-paid, blue-collar work.
Now the bad news: Washington is considering new banking rules that could very Read More
Payrolls expanded by 216,000 jobs in March, according to last week's report from the Bureau of Labor Statistics. Businesses easily offset cutbacks in local governments, as private employment increased by 230,000 jobs in March and, on a revised basis, 240,000 jobs in February.
Investors are understandably encouraged; the new counts mark the strongest monthly gains Read More
Last Friday's jobs report from the Labor Department initiated a wave of articles and blog entries depicting a robust economy and blue skies ahead. Democrats have taken the position that the administration's policies are starting to work, and Republicans are directing most of the credit toward the extension of the Bush-era tax rates. For a Read More
Every week, Cassidy Turley research guru Robert Sammons provides us with a statistical snapshot of an aspect of the New York City commercial real estate market. This week, jobs, jobs, jobs.
Office employment for New York City was up by a revised 24,600 positions for 2010, from the original estimate of 21,500, in figures released this Read More
U.S. employers added 192,000 jobs in February, the largest one-month improvement since May 2010, when public hiring picked up temporarily on account of the need for census workers. The increase in payrolls reflects a decline of 30,000 jobs in state and local government jobs, more than offset by a net gain of 222,000 on private-sector Read More
For millions of unemployed Americans, for policy makers, and for commercial real estate investors and lenders, last Friday's employment report offered a rude aide memoire of the recovery's continuing unevenness. According to the Bureau of Labor Statistics' advance estimate, private and public employers added just 36,000 net new jobs in January.
This tally fell Read More
Coming of age with Facebook may not be enough to prepare kids for a job in the digital economy.
Startups are finding it hard to get good people--even with 9.2 percent unemployment in New York City and the rest of the country. Every company The Observer writes about is hiring, it seems, and BuzzFeed president Read More
On the bright side, jobless Americans will have an easier time finding people to hang out with during the daytime. On the sad side, yikes! Unemployment climbed to 9.8 percent in November as the U.S. economy added a measly 39,000 jobs, according to the Bureau of Labor Statistics.
The number of unemployed people now stands Read More
