Report | Storming past disruptions?
Despite temporary disruptions from rough weather in September, the labor market continues to grow. The unemployment rate is at its lowest level in 17 years, which means the lack of qualified workers is the biggest impediment to job growth. We should see one more rate hike in December in 2017, following the installment of a new Fed Chair, Jerome Powell. Despite that, consumer confidence is also higher than it's been in 17 years, which could mean a good holiday shopping season for the retail sector. And within multifamily, job gains and strong wage growth among Millennials means apartments will stay filled, despite more supply coming to the market.
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