The Other 37%

The WSJ summed up the Labor Department's October Jobs Report, "Jobs Rebound, Wages Stand Still businesses can't find enough people to hire." The Labor Participation Rate is at 62.7% (of the 49% of the population who comprise the Labor Force), which means 37.3% of the Labor Force, nearly 6 million people, remain under-employed or unemployed. SelectLeaders Job Barometer's Assessment of the U.S. Real Estate Job Market for decades has tracked one factor in labor participation, the disconnect between applications and jobs posted. Acquisitions, asset management, finance and development jobs consistently receive the most applications. Yet in Q3, property management jobs comprise a quarter of all opportunities. Recently, aided by technology, roles that used to be exclusively the domain of asset managers, such as performance metrics, feasibility analysis, and acquisitions due diligence are increasingly merging with, what were formerly, property management roles. As job opportunities encompass more roles, more job seekers could fit enough of the criteria to apply, and be back at it again.

Susan Phillips, CEO SelectLeaders
November 8, 2017

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