This is a narration of Radix's Rent and Operating Trends Report. While there is plenty of warranted speculation on the slowing economy and the potential for a recession, the employment market keeps chugging along, continuing its steady recovery with very strong job growth. Roughly 390,000 new jobs were added in May, exceeding economists’ expectations. The April jobs report was also revised to 436,000 new jobs, and the unemployment rate remained at 3.6%. Inflation and supply chain issues continue to plague the economy, but the incredibly tight employment market will likely lead to a soft landing as the economy cools. Companies across industries are still struggling to find employees at a wide variety of talent and pay scales. This will likely indicate a very shallow and short recession if we even have a recession at all. Tune in to find out more information on multifamily dynamics during the week of June 5th.
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