ADP released it’s national employment report for January this morning and the prognosis was good.
ADP announced that the private-sector employment had increased by 187,000 over December’s employment numbers.
What does this mean for the rental market? Well, cities with strong job markets (such as Seattle) are the first to add positions and draw in new employees. Often the newly employed prefer to rent instead of own immediately because of the greater flexibility in renting.
How do you see the rental market affected by the growing number of jobs out there? Do you see this in Seattle, or does this national data seem disconnected from the local job market? Chime in on Facebook, Twitter or in the comment section below!
*Update 11:10 am (2/4/11): The Bureau of Labor Statistics released the January Employment Situation Summary, and it contained more good news! Unemployment fell nearly half a percent from December. Read more here.