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United States

Report | United States Employment Update - January 2016


​December's 292,000 new jobs capped off an impressive three-month streak to end 2015, with job creation totaling 851,000 over the past three months. Rebounds in professional and business services as well as nearly all industries apart from mining and logging registering improvement brought employment to new heights, while a 446,000-person increase in the labor force kept unemployment unchanged at 5.0 percent. Ancillary metrics, such as wage growth of 2.5 percent and a lack of inflation, suggest that the labor market will power additional macroeconomic recovery and accelerated GDP growth, particularly in the area of personal consumption, leading to further expansion that will ultimately benefit the office market. Heading into 2016, we expect continued gains across industries and geographies, particularly Southern and Western mid-sized markets.

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