Election Economy

Wall Street bonuses are projected to be from 5 to 10 percent lower this year, reports Johnson Associates in the NYT DealBook. How will the Real Estate industry fare? At the beginning of 2016, “SelectLeaders Hiring Trend Survey” reported 70% of our industry expect their total compensation (salary, commission, and bonus) to increase this year. And, their optimism was based on facts: 62% received a bonus the previous year. And, 58% reported an increase in salary and/or commissions in 2015. Hiring, and compensation, run on consumer confidence. We could track the 2016 extreme swings in the recruitment market, for both employers and job seekers, by the volatility of the election news. If you asked us in October, the low point of 2016, our predictions would have been neck and neck with the Wall Street survey. Ask us after the “Trump Rally” and we’re sticking to our Hiring Trends Survey results. Think going into 2016, our respondents knew a real estate guy would lead the economy?

Susan Phillips, CEO SelectLeaders
November 16, 2016

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