This is a narration of our weekly Rent and Operating Trends Report. Economic optimists ended last week on a strong note, as the July employment numbers showed more than half a million new jobs added last month. New jobs were added across a variety of sectors, showing the diversity and strength of the continued employment recovery. In fact, with the significant increase in jobs created last month, the U.S. economy has now recovered all 22 million positions lost during the COVID-19 pandemic. The national unemployment rate fell to 3.5%, matching the pre-pandemic low, and wage growth accelerated, increasing 5.2% year-over-year. Tune in to find out more information on multifamily dynamics during the week of August 7.
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